Mecsia secures investment to support expansion
Mecsia, a technical inspection and maintenance services, has received additional investment from private equity company Synova to support the next phase of its growth.
Mecsia was originally based by another private equity firm, Rockpool, which has now exited its investment to Synova, delivering an 120 per cent internal rate of return for Rockpool across four rounds of investment.
Mecsia, headquartered in Cambridgeshire but which owns Acorn Integrated Services in Slough, SK Refrigeration and Cooling in Gloucester, Marsh Environmental and Artic Building Services in Kent, has grown organically and through strategic acquisitions, with a vision to transform the technical services inspection and maintenance industry.
The company has the strategy of “Local Service, National Reach” and generates revenues of more than £100 million. It is growing sales organically at more than 25 per cent, employing more than 400 engineers nationally to service its clients’ needs.
Synova will support Mecsia's ambitious growth strategy.
Jon Coiley, CEO of Mecsia, said: “We are delighted to have secured the support of Synova, who we see as the ideal partner for the next leg of our journey. This investment will allow us to accelerate our plans for further innovation and expansion of our services and to continue to deliver the highest quality experience for our clients.
"Synova’s deep knowledge of the sector and ability to source and execute acquisitions will help drive the expansion of our technical services geographically and by competency as Mecsia continues its expansion plans.”
Oliver Bevan, Partner at Synova, added: “We are delighted to be partnering with Jon and his management team for the next chapter in the Mecsia growth story. To date the team have delivered market leading performance with unparalleled client service. We look forward to supporting Mecsia’s continued vision to transform the technical service market.”
Rockpool originally backed the management buy-out of Mecsia in December 2020, followed by the acquisitions of Acorn Engineering (2021), SK Heating & Cooling (2022) and Artic Building Services (2023). Rockpool equity investors that supported the original MBO of Mecsia in December 2020 generated an 11x return on capital invested.
