Key Takeaways
- • H.I.G. Capital, a $75 billion alternative investment firm, has completed the acquisition of Avove Limited, a UK-based infrastructure services and engineering company specializing in water, wastewater, and power utilities across Great Britain and Northern Ireland.
- • Avove generated £227 million in revenue in the most recent fiscal year and is positioned to capitalize on significant UK infrastructure investment, particularly the AMP8 water investment cycle focused on asset renewal, pollution reduction, and climate resilience.
- • Avove's management team, led by CEO Mark Perkins, will reinvest alongside H.I.G. and retain operational control, with the private equity partnership supporting an M&A-driven growth strategy to expand service offerings across regulated utility markets.
- • The transaction represents H.I.G.'s entry into the UK regulated infrastructure sector, targeting a market undergoing rapid transformation with emphasis on capacity, efficiency, and resilience improvements.
- • Deal financial terms were not disclosed, though the acquisition signals H.I.G.'s confidence in long-term UK infrastructure spending cycles and utilities sector consolidation opportunities.
Summary
H.I.G. Capital completed its acquisition of Avove Limited on July 28, 2026, marking a significant entry for the $75 billion global alternative investment firm into the UK regulated infrastructure sector. Avove is a leading infrastructure services and engineering business delivering end-to-end design and build solutions to utilities operating across water, wastewater, and power markets throughout Great Britain and Northern Ireland. The company generated £227 million in revenue in its most recent fiscal year, demonstrating substantial scale within the UK utilities contractor space.
The acquisition aligns strategically with H.I.G.'s infrastructure investment thesis, particularly given Avove's exposure to the AMP8 water investment cycle—a multi-year regulatory framework prioritizing renewal of aging assets, reduction of pollution incidents, and strengthening of climate change resilience across UK water infrastructure. This regulatory tailwind provides predictable, long-term revenue visibility for utilities contractors serving major water companies and power operators. Mark Perkins, CEO of Avove, highlighted the company's track record in innovation, quality, safety, and community value creation, positioning the business favorably for sustained growth in a transforming market.
H.I.G.'s acquisition structure preserves operational continuity and management alignment. Avove's existing management team will reinvest capital alongside H.I.G. and remain in place to lead operations, a retention mechanism that typically signals H.I.G.'s confidence in incumbent leadership and strategy. The partnership is supported by an active M&A strategy designed to broaden Avove's service offerings and strengthen its competitive position across the regulated utilities value chain. Adam Taylor, Managing Director in H.I.G.'s London office, emphasized that UK infrastructure markets are positioned for significant growth driven by regulatory requirements for capacity, efficiency, and resilience improvements.
Financial terms of the transaction were not disclosed, a common practice in mid-market infrastructure acquisitions. Avove's positioning within the AMP8 investment cycle and its established market presence as a high-performing utilities contractor suggest valuation multiples consistent with contracted, recurring-revenue infrastructure businesses. The acquisition reflects broader private equity interest in regulated utility infrastructure, where long-duration contracts, regulatory oversight, and essential service delivery provide downside protection and stable cash flows aligned with institutional investor risk appetite.
The acquisition aligns strategically with H.I.G.'s infrastructure investment thesis, particularly given Avove's exposure to the AMP8 water investment cycle—a multi-year regulatory framework prioritizing renewal of aging assets, reduction of pollution incidents, and strengthening of climate change resilience across UK water infrastructure. This regulatory tailwind provides predictable, long-term revenue visibility for utilities contractors serving major water companies and power operators. Mark Perkins, CEO of Avove, highlighted the company's track record in innovation, quality, safety, and community value creation, positioning the business favorably for sustained growth in a transforming market.
H.I.G.'s acquisition structure preserves operational continuity and management alignment. Avove's existing management team will reinvest capital alongside H.I.G. and remain in place to lead operations, a retention mechanism that typically signals H.I.G.'s confidence in incumbent leadership and strategy. The partnership is supported by an active M&A strategy designed to broaden Avove's service offerings and strengthen its competitive position across the regulated utilities value chain. Adam Taylor, Managing Director in H.I.G.'s London office, emphasized that UK infrastructure markets are positioned for significant growth driven by regulatory requirements for capacity, efficiency, and resilience improvements.
Financial terms of the transaction were not disclosed, a common practice in mid-market infrastructure acquisitions. Avove's positioning within the AMP8 investment cycle and its established market presence as a high-performing utilities contractor suggest valuation multiples consistent with contracted, recurring-revenue infrastructure businesses. The acquisition reflects broader private equity interest in regulated utility infrastructure, where long-duration contracts, regulatory oversight, and essential service delivery provide downside protection and stable cash flows aligned with institutional investor risk appetite.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.