PMP provides utility companies with mechanical engineering support, asset surveys and pipeline leakage repair, specialising in difficult, confined or high locations with techniques including rope access and no-dig repairs.
PMP Utilities is M Group’s fifth acquisition in 15 months. It all started in November 2016 when private equity investment firm First Reserve bought Morrison Utility Services. A month later it took over Dyer & Butler. Meter-U, a meter reading firm, and Magdalene, a telecoms infrastructure specialist were added in the months that followed. It is now a £1bn turnover group.
“M Group Services is focused on achieving profitable growth both organically and through acquisitions that broaden our scope of expertise,” said chief executive Jim Arnold. “The acquisition of PMP fits with that acquisition strategy perfectly. Its specialist services and expertise will enable M Group Services businesses to offer enhanced capabilities to their respective clients.”
PMP managing director Stephen Taylor said: “Our acquisition by M Group Services signals the next exciting phase of our continuing growth. We are now ideally positioned to benefit from the diverse range of new opportunities that becoming part of a broader infrastructure service provider group will bring and we look forward to working alongside the other M Group Services businesses.”
Financial details of the transaction were not disclosed.