A BISy Time
Headquartered in Chesterfield, but with offices across the UK, HG Group delivers turn-key control system solutions to blue-chip customers across a range of demanding industrial sectors including energy & nuclear, metals & manufacturing and oil & gas. With turnover in the region of £12m and in excess of 80 employees, the business has seen significant recent growth in particular from several large overseas contracts.
BIS, a division of the listed German engineering and services group Bilfinger, is a €3 billion revenue global provider of industrial services with a particular focus on the process and energy production industries.
HG Group shareholder and director David Henery commented: “We are delighted with the outcome, as it represents a great deal for all parties involved. Our intention throughout this process was to find the right partner for HG Group to enable it to leverage the huge potential that exists in our highly skilled staff. BHP Corporate Finance identified Bilfinger as a strong strategic fit and the ideal partner for HG Group moving forward. With access to the resources and networks of BIS and its wider group, we are sure the business will go from strength to strength.”
Don Gray commented: “HG Group is a great example of a business that has developed an outstanding reputation in its chosen markets and we are very pleased to have worked with Graham and Dave to deliver such a successful outcome. The transaction with BIS is further evidence of the continuing trend we are seeing of overseas acquirors looking to invest in high quality UK businesses.”
Reflecting on the transaction, Kevin Davies added: “This deal is a great example of the value that can be created through pre-sale planning and rigorous buyer research. We worked with the HG team for a number of months before taking the business to market and this enabled us to develop a clear strategy and action plan.”
The sale of HG Group reinforces what has been another highly successful year for BHP Corporate Finance with transaction values well in excess of £100m.