Premier Technical Services Group (PTSG) is to focus on growing its share of the UK compliance services market, after a majority stake was acquired by a partnership of investors.
Investor Warburg Pincus has entered an agreement with Macquarie Capital Principal Finance to jointly acquire a majority stake in PTSG. The investor partnership will support PTSG’s development, providing the firm with extra resources and funding to accelerate its organic growth and consolidation strategy, with the goal of occupying a greater share of the UK’s compliance services market.
PTSG provides specialist building compliance services, including fire and electrical compliance services, fall protection and façade access services. It operates across four divisions: Access & Safety, Electrical Services, Building Access Specialists and Fire Solutions.
The investors said the deal marked a significant milestone for PTSG as it entered the next phase of its growth, allowing the company to focus on continued innovation and key growth initiatives.
Macquarie Capital acquired a majority stake in PTSG in 2019 and since then, PTSG has benefitted from access to flexible balance sheet funding, to help the company with the growth strategy driven by its founding management team.
Headquartered in West Yorkshire, PTSG employs around 1,400 people across 37 UK sites, servicing more than 180,000 buildings in the UK, across a range of industries.
PTSG chief executive Paul Teasdale said: “Together we will continue to cement our position as a leading provider in the compliance services market and continue to consolidate the sector.”
Warburg Pincus said the plan was for PTSG to expand its solutions and capture untapped growth opportunities in the market.
“Compliance services is a critically important sector and we anticipate the need for such services will continue to grow as regulatory requirements increase,” said David Reis, managing director at Warburg Pincus.
“We have been impressed by PTSG’s tremendous track record of growth and with their best-in-class operating model while keeping its customers at the centre of its strategy”.
The transaction remains subject to the approval of antitrust authorities.