Maven reaps 3.8x on EFC exit

The GP acquired EFC, at the time called Electro-Flow Controls, in 2009 through a £10m buy-in management buyout.

Investment bank Simmons & Company International provided co-investment from the Simmons Parallel Energy Fund.

Clydesdale Bank provided £4.5m of banking facilities to support the transaction.

Under Maven's tenure, the business undertook an international expansion strategy, added to its management team, invested in product development and trebled its headcount. The GP also stated the oil & gas services provider had more than doubled its revenues in the past five years.

The sale marks Maven's second exit in recent weeks, having divested CCTV company Camwatch to PAI Partners-backed VPS Holdings at the end of November.

Company
Headquartered in Aberdeen and founded in 1998, EFC is a provider of monitoring systems and instrumentation to the oil & gas sector. The business has a headcount of 150.

People
Jock Gardiner is a partner at Maven. Bob Will is CEO at EFC.

Advisers
Acquirer – Blackwood Partners (Legal).
Company – CMS Cameron McKenna (Legal); Simmons & Company International (M&A).

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