HIG Avove acquisition targets UK utility infrastructure services

HIG has acquired Avove, a UK infrastructure services and engineering company, in a deal that adds exposure to regulated water and power markets, PE Hub reported. Financial terms of the HIG Avove acquisition were not disclosed.

Avove provides design-and-build services to utilities in the water, wastewater and power sectors, according to PE Hub. The business operates across Great Britain and Northern Ireland, positioning it within essential infrastructure markets where spending is shaped by regulation, resilience needs and utility investment programmes.

The company’s management team will put capital into the business alongside HIG and will continue to run Avove, PE Hub reported. Mark Perkins is Avove’s chief executive.

What does Avove do?

Avove delivers end-to-end engineering, design and construction services for utility operators in water, wastewater and power. In practice, that places the company in the supply chain for regulated infrastructure owners that need contractors to plan, build and upgrade networks and related assets.

The transaction gives HIG a platform in UK infrastructure services at a time when utility systems are under pressure to improve capacity, operating efficiency and resilience. Those themes were cited by Adam Taylor, a managing director in HIG’s London office, in comments on the deal.

“UK infrastructure markets are set for significant growth in the coming years with capacity, efficiency, and resilience targeted for improvement,” Taylor said, according to PE Hub. He added that HIG was partnering with Avove’s management team by combining the company’s delivery record in regulated utility markets with HIG’s UK services sector knowledge and experience in acquisition-led growth.

Management reinvestment is a common feature of private equity transactions. It typically means executives retain an economic interest in the company after the change of ownership, aligning them with the new sponsor as they continue to lead the business.

No further details were disclosed on the seller, valuation, debt financing or expected acquisition strategy. PE Hub classified the transaction in the industrial and manufacturing sector.

For infrastructure investors and contractors, the deal reflects continued private equity interest in services businesses tied to essential utility spending rather than discretionary capital expenditure. The regulated nature of water and power markets can create long planning horizons for infrastructure work, though future activity remains dependent on utility budgets, regulatory settlements and project execution.

This story draws on original reporting from PE Hub.