Our Corporate Finance team provides transaction support to H.I.G. Capital on its acquisition of Synecore Limited to create the Andwis Group

Our Corporate Finance team recently provided financial due diligence to H.I.G. Capital (“H.I.G.”), a leading global alternative asset investment firm, on its acquisition of Synecore Limited (“Synecore”).

Headquartered in Kent, Synecore specialises in the delivery and maintenance of HVAC, electrical, air conditioning, and refrigeration services to the hospitality, retail, leisure, and commercial sectors. Synecore, and its network of engineers and suppliers, provide both maintenance and installation services, often supporting site rollout and refurbishment programs.

Alongside Synecore, H.I.G. has also acquired Meesons, a physical security and entrance control solutions provider for both critical national infrastructure and the data centre, corporate, and leisure sectors. The business delivers hundreds of projects each year securing buildings and people in highly demanding settings.

Synecore and Meesons will join forces with H.I.G.’s existing portfolio companies, CPS and Classic Lifts, to form the Andwis Group (“Andwis” or the “Andwis Group”), a family of best-in-class technical services providers. 

Jonathan Simpson-Dent, Chair of Andwis, commented, “We are deeply committed to equipping our clients with safe, sustainable buildings that protect people and productivity. The creation of the Andwis Group marks a major milestone as we bring four industry-leading and complementary specialist networks together with an exciting pipeline of acquisition opportunities. This is the start of an exciting journey as we continue to build and expand the Andwis Group into a truly unique multi-service offering, delivered through direct best-in-class networks.”

“The strong growth and reputations of these businesses are coming together to create a leading provider of critical technical building services. The Andwis Group will be able to provide a competitive offering in a sector that has significant long-term growth opportunities driven by decarbonisation, changing regulation, new technology, and ageing building stock,” said John Harper, Managing Director of H.I.G.

The team at James Cowper Kreston was led by Brad McAvoy and Nikul Patel. Brad commented, “We are pleased to announce our role as adviser to H.I.G. Capital and are delighted to have assisted them in the acquisition of Synecore and the creation of the Andwis Group.”