RCapital carves out TPG Engineering from TP Group

The vendor said the sale will maximise shareholder value and allow it to focus on providing consulting, digital and engineering services. 

TP Group, with a market cap of £38.9m, is backed by shareholders M&G Investment Management, Legal and General Investment Management and Canaccord Genuity.

Chris Campbell, partner at RCapital, said the acquisition complements other investments in the GP's portfolio, which will help support TPG Engineering's management team.

RCapital, founded in 2004, specialises in growth, restructurings, turnaround, stressed and distressed, and insolvent situation investments for UK and European businesses. It has so far made 70 investments across the UK and Europe.

Company
Founded in 1995 and based in Dukinfield, TPG Engineering is a designer and manufacturer of large, high-integrity gas and fluid management equipment, principally for the oil and gas market.  

People
RCapital – Chris Campbell (partner).
TP Group – Phil Cartmell (CEO).

Advisers
Equity – Deloitte (financial due diligence); Browne Jacobson (legal). 

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