Servelec Controls

Park Place advised the management team of Servelec Controls on an MBO backed by Alcuin Capital Partners. Founded in 1977, Servelec Controls is a Sheffield-headquartered technology group with operations also in Scotland and the North West providing specialist hardware and software to create turnkey solutions for the oil and gas, power and nuclear industries.

The transaction means Servelec Controls will leave the Servelec Group which was taken private earlier in 2018 in a £224m acquisition funded by Montagu Private Equity. Servelec Controls will operate as a standalone entity that will enable it to be more agile in its approach to its employees and customers.

Andrew Mills, Servelec Controls Managing Director, said “With the team having little prior experience on buyouts and private equity structures it was important to have Park Place by our sides to provide context and insight on the transaction whilst negotiating terms on behalf of the team. Their experience and straight-talking approach ensured we quickly understood what was and wasn’t pertinent, which allowed us to properly fulfil our central role within the transaction.”

Richard Firth, who led the advice from Park Place, commented “Having advised Servelec Group earlier in the year on its management incentive scheme, it was a pleasure to have helped the group pursue its strategy and to represent the management team of Controls on their buyout. The change of ownership provides the business with renewed focus and financial support in which a well-incentivised management team will continue to push the business forwards.”

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