H.I.G. Capital Acquires Rainham Industrial Services
LONDON – October 22, 2024 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $65 billion of capital under management, is pleased to announce that one of its affiliates has acquired Rainham Industrial Services Limited (“Rainham” or the “Company”), a leading UK provider of industrial installation, maintenance, and refurbishment services to the power generation, energy from waste, nuclear and manufacturing sectors. The Company’s executive management, which currently owns the business, will reinvest alongside H.I.G. Terms of the transaction were not disclosed.
Rainham provides clients with mechanical, access, insulation, painting, and cleaning services in demanding industrial end markets. It operates from four locations across the UK and has built a strong reputation for quality delivery and an award-winning health and safety capability.
Rainham’s existing management team will remain in place to continue driving the Company’s growth and future development. Rainham benefits from exposure to an ageing UK industrial base and a growing power generation market, as well as customer relationships that span decades. The Company also intends to grow and expand its service offering through selective M&A.
Tim McCarthy, CEO of Rainham, said, “Rainham has built its success by focusing on exceptional service, quality, and safety, which will continue to be the cornerstones of the business going forward. We are excited for the future and believe that by working closely with H.I.G., we can continue to deliver growth in a large and growing end-market.”
John Harper, Managing Director of H.I.G. in London, said, “The UK’s industrial and infrastructure base is set for significant transformation in coming years. We are excited to partner with Rainham’s highly experienced management team to build on their success to date, delivering critical maintenance and development services to asset owners. We both see significant scope for growing the business in adjacent sectors and add-on acquisitions.”
About Rainham Industrial Services
Rainham provides specialist industrial services that support the installation, maintenance, refurbishment, decommissioning and replacement of large industrial plants and infrastructure sites. The business covers the UK from four offices and serves the power generation, energy from waste, nuclear, petrochemical and manufacturing sectors. For more details see rainhamis.com.
About H.I.G. Capital
H.I.G. Capital is a leading global alternative investment firm with $65 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.