UK - Maven and Matrix back MBO of Westway

Middlesex-based Westway provides air conditioning and related services to a blue chip customer base. Clients include Marks and Spencer, Fitness First and JP Morgan Cazenove. The company focuses on the refurbishment and maintenance market, rather than the more volatile new-build sector. The business, which has a turnover of £10m, was founded in 2001 and employs approximately 100 people.

As part of the deal, David Steventon, co-founder of infrastructure services business Covion, will join the board as chairman.

This deal represents Maven's first since spinning out of Aberdeen Asset Management earlier this month.

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• UK / Ireland