NBGI-backed ATR Group acquires UES

NBGI provided fresh capital to support the acquisition. The bolt-on is in line with NBGI's strategy for the acquisitive expansion of the company.

Following the acquisition of UES, ATR will have a turnover of more than £20m and its workforce will have increased by 15%.

NBGI had identified UES as a potential bolt-on prior to the completion of the MBO of ATR Group in March this year. Following the MBO, corporate finance firm Ritson Smith initiated the transaction on behalf of UES.

Debt
Clydesdale Bank provided debt to underpin the acquisition.

Company
Founded in 2006 and based in Foveran, UES rents and supplies marine and subsea support equipment to the diving, ROV and survey sectors of the offshore industry.

People
Lawrence Dean led the deal for NBGI. Jeff Riddoch is managing director of UES.

Advisers
Equity - Dundas & Wilson (Legal); Johnston Carmichael (Financial due diligence).
Company - Ritson Smith (Corporate finance).

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• Topics
• UK / Ireland
• Support services
• Expansion
• United Kingdom
• Acquisition finance
• NBGI Private Equity