The $75 billion alternative investment firm said Avove’s management will reinvest and remain in place as the company targets growth tied to Britain’s AMP8 water investment cycle.
H.I.G. Capital said one of its affiliates has acquired Avove Limited, a UK infrastructure services and engineering company focused on regulated water and electricity markets. Financial terms were not disclosed. Avove provides design and construction services to water, wastewater and energy utilities across the UK and Northern Ireland. H.I.G. said Avove is positioned to benefit from expected heavy investment in British infrastructure, particularly the AMP8 water investment cycle, which is aimed at renewing aging assets, reducing pollution incidents and improving climate resilience. Avove’s management team will reinvest alongside H.I.G. and remain in place, with the business pursuing an M&A strategy to broaden its service offering.