Signed deal

H.I.G. Capital ("H.I.G.") announced that one of its affiliates has acquired Rainham Industrial Services Limited, a leading UK provider of industrial installation, maintenance, and refurbishment services to the power generation, energy from waste, nuclear and manufacturing sectors. The Company's executive management, which currently owns the business, will reinvest alongside H.I.G. Terms of the transaction were not disclosed.

Rainham provides clients with mechanical, access, insulation, painting, and cleaning services in demanding industrial end markets. It operates from four locations across the UK and has built a strong reputation for quality delivery and an award-winning health and safety capability.

Rainham's existing management team will remain in place to continue driving the Company's growth and future development. Rainham benefits from exposure to an ageing UK industrial base and a growing power generation market, as well as customer relationships that span decades. The company also intends to grow and expand its service offering through selective M&A.

Tim McCarthy, CEO of Rainham, said, "Rainham has built its success by focusing on exceptional service, quality, and safety, which will continue to be the cornerstones of the business going forward. We are excited for the future and believe that by working closely with H.I.G., we can continue to deliver growth in a large and growing end-market."

John Harper, managing director of H.I.G. in London, said, "The UK's industrial and infrastructure base is set for significant transformation in coming years. We are excited to partner with Rainham's highly experienced management team to build on their success to date, delivering critical maintenance and development services to asset owners. We both see significant scope for growing the business in adjacent sectors and add-on acquisitions."