- Classic Lift’s management will reinvest with HIG
- HIG looking at further acquisitions in fire protection, water and pumps, and access and security
- CPS and Classic Lifts to be part of a broader technical building services group
HIG Capital has bought Classic Lifts, a UK lift engineering and maintenance services provider.
Classic has seven offices across the UK, with its registered office in Rotherham. Its management team will reinvest alongside HIG. The financial terms of the transaction have not been disclosed.
HIG plans to grow the company further organically and via M&A.
HIG bought CPS, a UK mechanical and electrical building services provider, in September. CPS and Classic Lifts will form part of a broader technical building services group. HIG plans to make further acquisitions for the group in fire protection, water and pumps, access and security, and associated compliance services.
“Classic’s long-term growth record, talented staff and strong reputation with their customers were core to our interest in the business,” said John Harper, managing director at HIG.
HIG a global alternative asset investment firm with $53 billion of equity capital under management. The firm is headquartered in Miami and has offices around the world.