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Our Corporate Finance team advises H.I.G. Capital backed andwis. group on its acquisitions of Watertite and Bullet Lifts

19 January 2024

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Our Corporate Finance team provided financial and tax due diligence services to H.I.G. Capital backed the andwis. group, on the acquisitions of Watertite Building Services, Bullet Lift Services, and Bullet Training Services Limited.

The andwis. group is one of the UK’s leading technical services groups with its offering including M&E, lift maintenance, entrance and access security, HVAC and fire and security. Watertite will join the andwis. M&E division alongside CPS Building Services and Bullet will join Classic Lifts, strengthening its offering in the West Midlands for lift maintenance, repair and modernisation services.

Jon Wintersgill, retiring Managing Director of Watertite, commented, “This is a fantastic new chapter for Watertite and testament to the team’s commitment to our clients and building the business. Together with andwis., our joint vision will create a unique range of essential building services and expertise that will benefit our clients.”

Jenny Larkin, continuing as Managing Director of Bullet, commented, “We are delighted to be joining andwis. Bullet has thrived through the team’s collective focus on our clients through service excellence. Going forward, we have a great opportunity to accelerate our development and client impact as part of the andwis. group.”

Jonathan Simpson-Dent, Chair of the andwis. group, commented, “Watertite and Bullet have both built unparalleled reputations in their respective sectors and markets by delivering consistently high quality services and accreditation assurance for their clients. Both teams embody our andwis. guiding principles of integrity, dynamism and partnership, making them great additions to the group as we continue to build a truly unique multi-service offering delivered through direct best-in-class networks.”

The team at James Cowper Kreston were led by Brad McAvoy, who commented, “We were pleased to work with H.I.G. Capital and the andwis. group on these acquisitions. These deals align with the andwis. group’s ambition to become the UK’s leading benchmark for technical building services and we look forward to continuing to support them on this journey.”