Freshfields Bruckhaus Deringer has advised First Reserve, a leading global private equity investment firm exclusively focused on energy, on its agreement to sell M Group Services. The buyers are leading European private equity firm PAI Partners.
M Group Services is a £1bn turnover business that delivers a range of essential infrastructure services to the regulated sectors of utilities (electricity, gas and water), transport, telecom and data in the UK & Ireland. It’s businesses includes Morrison Utility Services, Morrison Data Services, Dyer & Butler, Magdalene, PMP Utilities and M Group Services Plant & Fleet Solutions.
The actual sale of the business will occur following European Commission antitrust approval and is anticipated to complete by the end of August.
The Freshfields team was led by partner James Scott (picture) and associate Mark Brewer. Partner Peter Hall and senior associate Verity Stevens advised in relation to financing.
Involved fees earner: James Scott – Freshfields Bruckhaus Deringer LLP; Mark Brewer – Freshfields Bruckhaus Deringer LLP; Peter Hall – Freshfields Bruckhaus Deringer LLP; Verity Stevens – Freshfields Bruckhaus Deringer LLP;
Law Firms: Freshfields Bruckhaus Deringer LLP;
Clients: First Reserve;