Rockpool backs the acquisition of Acorn Engineering Group by portfolio company Cambridge Maintenance Services

5 months ago

After funding a management buyout of Cambridge Maintenance Services (“CMS”) in December 2020, private equity firm Rockpool Investments has now funded the acquisition of Acorn Engineering Group (“Acorn”) by CMS. The deal incorporates Acorn Engineering, Marsh, and AIS BMS. It enables these strong and successful companies to share greater resources, capacity, and abilities.

CMS is a nationwide supplier of technical engineering services, offering mechanical and electrical planned preventative maintenance, as well as round-the-clock reactive services for a diverse set of clients. The company uses disruptive smart technology to deliver regulated building maintenance, testing, and compliance services across nine engineering hubs in the UK, helping to reduce their clients’ costs and drive sustainability in the process.
Acorn Engineering Group is a specialist supplier of planned and reactive mechanical, electrical, and water treatment services operating in London and the South East. It also has a specialist building management system (“BMS”) and analytics company providing BMS services, remote monitoring, and analytics to improve building performance and reduce energy usage and costs.
With a combined maintenance turnover in excess of £32m and with over 300 employees, the group will be a significant provider of mechanical and electrical engineering services within the facilities management sector.
Both CMS and Acorn share a similar reputation and history with high ethical values and are already recognised as being strong service providers within the industry. The combined group will offer existing clients greater service levels with a drive to self-deliver more services.
Tom Coey, Simon Collins, and Toby Hurdle led the deal for Rockpool.
Rockpool and CMS were advised by Taylor Wessing, Crowe, FinnCap debt advisory, and Catalysis advisory. Clydesdale Bank plc provided additional senior loan facilities to support the acquisition.