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UK investment firm, Buckthorn Partners LLP, has completed a transaction to acquire Amey Group PLC from Spanish owner Ferrovial.
Amey is a leading supplier to the UK government and public sector with over 100-years of experience in innovative design and infrastructure management, maintenance, and upgrade, with core expertise in consulting and transport and built infrastructure management.
Buckthorn has partnered in this transaction with One Equity Partners, a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. Buckthorn and OEP will invest in Amey to strengthen and grow the business and to access new opportunities, particularly in energy transition, where Amey is particularly well-placed to support the UK’s Net Zero ambitions.
On completion of the deal, which took place at the end of December 2022, Andy Milner was appointed as Chief Executive Officer.
Milner said: “I have always believed that Amey can really be at the forefront of delivering the UK’s infrastructure needs. I can see so much potential for growth and development in the business that will benefit both our people and our clients. The most important aspect of Amey for me is our people, and I will prioritise getting out and seeing our teams who really do keep the country operating.”
Nicholas Gee, Founding Partner at Buckthorn Partners, said on behalf of Buckthorn OEP: “We are delighted to appoint Andy as Chief Executive. We have worked closely with him throughout this whole process, and we share his passion and enthusiasm for Amey and its continued success under our ownership.
“Buckthorn and OEP will invest in Amey to strengthen and grow the business and to access new opportunities, particularly in energy transition. With Andy’s leadership, Amey is particularly well-placed to support the UK Government’s Net Zero ambitions and social value agenda.”
Ante Kusurin, Principal at OEP said: “When looking at carveouts of corporate assets, we look for companies with strong fundamentals that will allow them to thrive as independent businesses.
“Amey is an established business in the UK industrial services sector with a mission critical service offering and a blue-chip customer base.
“We are excited to back Andy and the Amey management team in what we believe is a significant market opportunity to pursue continued growth in the UK market and also abroad.”
The deal does not include Amey’s waste treatment business, which will remain part of the Ferrovial Group.
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