BGF injects £6.4m into Northern Escalator Installations

Following the transaction, the company will expand its range of services as it looks to capitalise on a number of large-scale commercial and transport infrastructure projects across Europe.

As part of the deal, Stuart Black – the chairperson of BGF-backed estate management business TCL – will join NEI in the role of non-executive chair.

Company
Founded in 1999, Halifax-headquartered NEI installs, repairs and removes escalators. The company has worked on projects including the recent redevelopment of Liverpool Football Club's Anfield stadium and the redevelopment of Paddington Station as part of London's Crossrail infrastructure project.

NEI employs 85 engineers and technical staff, and generated revenues of £12m in 2017, according to a statement. It has additional offices in Germany and Sweden, and works alongside escalator and elevator manufacturers including Kone, Schindler, Otis and ThyssenKrupp.

People
BGF – Chris Boyes, Rob Johnson (investors); Richard Taylor (investment director).
Northern Escalator Installations – Kevin Johnson (managing director).

Advisers
Equity – Schofield Sweeney, Steven Millward, Jessica Fielden (legal).
Company – BHP, Andy Haigh, Tim Brind (corporate finance); Clarion, Jonathan Simms, Alex Birch (legal).

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• Topics
• Expansion
• UK / Ireland
• Industrials
• United Kingdom
• BGF (Business Growth Fund)