Bristol-based mechanical and electrical engineering firm Avon Combined Electrical Services (ACES) has been sold for an undisclosed sum to construction engineering specialists RDCP Infrastructure.
SME Capital assisted in helping to fund the investment.
RDCP Infrastructure is a part of investment firm RDCP Group, which controls $450m of investments in the UK. Led by Gareth Dillon, Sameer Rizvi and Iryna Dubylovska, RDCP Infrastructure is the group’s construction arm.
With 260 full-time staff members it is one of the UK’s construction engineering specialist contractors, offering delivery of complex construction projects featuring engineering solutions across key building and infrastructure sectors.
The recent acquisition of ACES sees RDCP take a 90% stake in the £15m turnover business which generates £1.5m in EBITDA.
ACES is a South-West mechanical and engineering firm that has been trading for over 30 years. It has an established reputation and a proven management team led by MD Stephen Sage, who will continue in his role following the acquisition and work closely with Gareth Dillion and the RDCP Infrastructure team to grow the business further.
Sameer Rizvi, founder/CEO of RDCP Group, said: “The acquisition of ACES brings a high quality, growth-focused construction business to RDCP Infrastructure. It is a well-established and highly respected business with a strong management team. Their impressive client list includes high profile names including Galliford Try, the Ministry of Defence (MOD) and NHS. We are thrilled to welcome the ACES team to the RDCP Group and look forward to working together to maximise ACES potential and enhance further the company’s outstanding reputation and services.”
Stephen Sage, MD, ACES added: “Joining RDCP is the next step in the evolution of ACES into a stronger regional M&E engineering business. Sameer and his team will enhance the professional service already offered by ACES and open new opportunities for growth and expansion. I’m personally looking forward to working closely with Gareth and the RDCP Infrastructure team to understand their aspirations and explore the close synergies with sister companies within the group. Not only does this provide an excellent opportunity for both RDCP and ACES it also allows for personnel within the current business to expand their own personal aspirations.”
