15 January 2018 – Montagu Private Equity (“Montagu”), a leading pan-European private equity firm, today announces that the scheme of arrangement to implement the acquisition of Servelec Group plc (“Servelec”) has become effective. Servelec, a UK-headquartered technology group that provides software, hardware and services globally to the healthcare, social care and education, oil and gas, energy and utilities sectors, is now wholly and privately owned by Montagu.
Founded in 1977, Servelec has significant intellectual property with a strong technology and engineering heritage. The business was listed on the London Stock Exchange in December 2013. Since then, the Group has pursued a combined organic and inorganic growth strategy, completing acquisitions funded by internally generated cash and bank debt. Today, Servelec employs a highly skilled and knowledgeable workforce of approximately 600 people, operating internationally.
Alan Stubbs, Chief Executive Officer at Servelec Group, said: “Montagu’s acquisition of Servelec is an exciting new chapter in the company’s development and one that we anticipate will provide the necessary backing to further grow and develop the business to capitalise on market opportunities.”
Edward Shuckburgh, Director at Montagu Private Equity, commented: “We are very excited to be investing in Servelec, a strong brand name with great opportunities for growth, both organically and through potential acquisitions. Montagu has significant experience of working with software and technology companies to achieve their objectives and create value. We look forward to working with Alan and his team.”