Maven reaps 3.7x on Nessco exit

Maven stated that the sale marked its fourth profitable exit from an energy services business since 2007. The Aberdeen-based GP has led 12 transactions in the sector in the past five years.

Nessco has seen an increase in annual revenues to more than £30m and earnings grow by more than 200% to £3.5m since Maven's 2008 investment.

Previous funding
Maven (then Aberdeen Asset Managers Growth Capital) supported the buyout of Nessco Group in 2008 with a £4m equity investment alongside Scottish Venture Fund, which contributed £1.25m.

Company
Nessco is a provider of telecommunications services to the global energy and industrial sectors, including the design, installation, commission and maintenance of communications solutions, VSAT networks, and mobile communications products for sale or hire.

Established in 1979, Nessco is based in Aberdeen.

People
Jock Gardiner led the deal for Maven.

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• Topics
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