Zeus Private Equity puts MJ Quinn on track for success

Zeus Private Equity has completed the secondary buy-out of M.J.Quinn Integrated Services Limited, a Liverpool-based infrastructure services business in a multi million pound transaction. The Manchester office of European investment bank, Altium, helped structure the transaction.

M.J.Quinn was formed in 1979 to offer electrical contracting services in Liverpool, before successfully expanding its service offering to incorporate London Underground and surface rail contracts from its London operation. It has been involved on electrical, mechanical and fire protection work for the London Underground and the rail sector since the early 1980s. In addition, the company serves clients in health trusts, the MoD and universities, offering electrical, security, fire and mechanical maintenance and air conditioning service lines.

The business has achieved strong organic growth over the last five years and generated turnover of circa £30m in 2008. This growth has been led by contracts with London Underground and the development of a multi-disciplinary service offering in Liverpool. With the level of work on Underground and surface rail projects set to grow significantly in coming years, driven by political initiatives and the Olympic 2012 programme, such contracts are forecast to become a major driver of growth for the business.

Gary Tipper and Ed Fazakerley of Zeus Private Equity will join the board as non-executive directors and Gary Howse has been appointed as Chairman.

Gary Tipper, Managing Partner of Zeus Private Equity, commented: "This transaction allows M.J.Quinn to move into its next stage of growth and capitalise on the volume of opportunities in the transport sector, thanks to its preferred supplier status with the London Underground."

Mike Quinn, Managing Director of M.J.Quinn said: "We are entering a period that presents several exciting growth opportunities for the business and attracting an investment from ZPE will enable us to maximise these opportunities. The guys at ZPE have shown a good understanding of our business from the start and the whole team is looking forward to an exciting future."

Zeus Private Equity’s team consisted of Gary Tipper, Ed Fazakerley and Beth Houghton. Craig Scott of Halliwells in Liverpool advised the company and Jonathan Robinson of Eversheds in Manchester advised Zeus Private Equity. Matt Copley and Stephen Green of BDO Stoy Hayward carried out financial due diligence and Chris McMonagle of Mott MacDonald carried out commercial due diligence. Kim Fitzpatrick of Mash carried out insurance due diligence. The Co-operative Bank in Manchester has provided the company with working capital facilities and were advised by Berg Legal

< Back