Servelec, the Sheffield headquartered technology and software business, has confirmed the sale of systems integration business, Servelec Controls through a private-equity backed management buyout, led by Managing Director, Andrew Mills.
Backed by Alcuin Capital Partners, Andrew and the management team now lead the business in its future strategy, with the goal of transforming Servelec Controls into a robust, stand-alone entity and a market leader in the UK Systems Integration industry. The ability to run the business as a standalone entity will enable Servelec Controls to be more agile in its approach to both its staff and its customers in critical industries which include oil and gas, nuclear power and defence.
The new chapter in the company’s development means Servelec Controls will no longer be part of the Servelec group which was recently taken private from its previous Stock Exchange listing on the LSE main market. Servelec continues as the current Servelec (healthcare, social care and education) and Servelec Technologies businesses.
Alan Stubbs, Chief Executive Officer of Servelec commented; “We are pleased to confirm the sale of Servelec Controls and wish Andrew and the team every success for the future. Under Andrew’s leadership during the past 18 months and the focus he has provided to the business, Servelec Controls has delivered a strong performance and has transformed into a strong business with a great team across four strategically located office locations.
“Servelec now moves forward as a blended business focused on the healthcare, social care and education business and Servelec Technologies which delivers optimised automation across asset management for utility industries.”
Servelec recently announced a number of appointments to strengthen the leadership team across the group, with Neil Laycock and Richard Betts joining Servelec as Managing Directors of healthcare and social care and education respectively. David Frost recently joined as Managing Director of Servelec Technologies.
Raymond James acted as financial advisor to Servelec and Walker Morris as legal advisor on the transaction.