Exponent and H&MV bring in minority investors to drive next phase of growth after increase in value to €750m
Summary
Funds managed by Hamilton Lane will also make a minority investment via the firms impact platform.H&MV provides comprehensive turnkey services across design, commissioning, installation and maintenance of HV substations and grid connections, serving blue-chip clients from its locations in Ireland, the UK, and across EMEA.Working with Exponent since 2022, H&MV has grown substantially, quadrupling revenue through the execution of an ambitious growth strategy and expanding into new geographies, securing landmark contracts to grow its blue-chip multinational client base. Earlier this year, the business bolstered its core HV specialist offering through the acquisition of Skanstec Group, which added telecommunications and connectivity expertise to H&MV.From a new headquarters in Castletroy in, Co. Given the critical sectors in which it operates, H&MV has developed a clear ESG and sustainability strategy to underpin its growth agenda and support its clients in driving forward the energy transition.Exponents investment in H&MV underscores the firms deep commitment to supporting founder-led, Irish-based businesses to accelerate their growth and facilitate international expansion, alongside a long-standing focus on investment in differentiated, market leading businesses in the services sector. Flanagan and his management team, and with Exponents, LGT Capital Partners and Hamilton Lanes strategic support, H&MV is well positioned to accelerate its growth plans. Leveraging its position as the market leading specialist in HV engineering, it will deliver mission critical services that enable its clients capital projects supporting the rapidly growing data centre, renewables and utility sectors.Tim Easingwood, Partner at Exponent, commented: H&MV has shown exceptional growth since we invested in 2022 and we look forward to continue working closely with PJ Flanagan and his team in the years ahead.