RDCP wholly acquires HVAC business Macair

The deal was sourced through TML Finance & Advisory and a newco was set up to acquire the company.

RD paid less than 4x EBITDA for the asset.

The firm has £90m in assets under management and does not operate from a fund structure. Sameer Rizvi, CEO of RD, said: "RD is an independent firm, wholly owned by myself and Iryna Dubylovska. We don't manage any outside capital; the founders are the sole shareholders in all the portfolio companies. This allows us to make investments from a balance sheet of permanent capital, investing solely for the long-term."

The deal follows RDCP's acquisition of Mexican restaurant chain Chilango in August 2020.

Macair's management team will stay on with the company following the transaction. RD will be taking two board seats. Rizvi will be taking the role of chairman of the board and co-founder Dubylovska will be a non-executive director.

Rizvi said of the deal: "The strategy is to steadily grow the Macair business to become a leader in the facilities management space, along with a growing subcontractor on HVAC construction projects."

Aldermore provided debt financing for the deal.

Company
Based in Hoddesdon, Macair is a mechanical engineering firm that specialises in heating, ventilation and air conditioning (HVAC) facilities, including maintenance and installation. It was founded in 1994, employs 20 staff and has an annual turnover of more than £10m.

People
RD Capital Partners – Sameer Rizvi (CEO).
Macair – Rob McConachie (managing director).

Advisers
Equity – TML Finance & Advisory, Neil Sharp (corporate finance, debt advisory); Hempsons, Faisal Dhalla, Kirsty Odell (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• UK / Ireland
• Industrials
• United Kingdom