HIG Capital purchases CPS Building Services

HIG intends to use CPS to form the core of a wider technical building services group, several active acquisition discussions are currently underway.

  • HIG has bought CPS from its founder James Rust
  • There will be a particular focus on growing CPS’ electrical and maintenance offerings
  • CPS is a provider of mechanical and electrical services

HIG Capital has bought CPS Building Services from founder James Rust. HIG intends to use the company to form the core of a wider technical building services group. HIG is partnering in this effort with Jonathan Simpson-Dent, who will take the role of executive chairman of the group. Several active acquisition discussions are underway.

Cambridge-based CPS provides installation and maintenance services across heating, cooling, ventilation and electrical systems to clients in the healthcare, life sciences, defence and education end-markets.

CPS managing director Liam Connelly will reinvest alongside HIG. HIG, together with the CPS management team, will look to bolster CPS’s organic growth with a particular focus on growing its electrical and maintenance offerings.

“CPS’s reputation for exceptional service and high-quality delivery has stood out to us since our first meeting with the company,” said John Harper, head of the HIG Europe lower middle market LBO team in London. “We look forward to working with Jonathan to acquire additional technical building services offerings to complement CPS leveraging HIG’s deep M&A expertise.”

“I’m excited to be working with Liam on the next phase of growth at CPS and driving expansion into associated service lines through M&A to create a one-stop shop for customers of technical building services,” said Jonathan Simpson-Dent.

“Together with HIG, our joint vision will create a unique range of essential building services and expertise that will benefit our clients,” said Liam Connelly, managing director of CPS.

Miami-headquartered HIG Capital is a global investor with over $49 billion in assets under management.