We have advised Mecsia, Rockpool Investments and members of the Mecsia management team on the sale of Mecsia to Synova.
Mecsia provides compliance-led technical inspection and maintenance services to the commercial property, education and healthcare sectors. Mecsia is one of the fastest growing technical services businesses in the UK and has increased revenues from £15 million to over £100 million under Rockpool’s ownership, driven by fast organic growth and strategic acquisitions. The business employs over 400 specialist engineers nationally.
We advised Rockpool on its investment in Mecsia in December 2020. We also guided Mecsia through bolt-on acquisitions to further grow the business, together with the related debt and equity financing.
In completing the transaction, Rockpool has achieved a blended 7x equity return and 120% IRR across four rounds of investment.
Commenting on the transaction, Private Equity Partner, Jonny Bethell said: "We are delighted to have once again advised Rockpool Investments and Mecsia on this highly significant milestone. Having advised on Rockpool's initial investment into Mecsia in 2020, and also having provided the legal input on significant acquisitions including Acorn Engineering Group and Artic Building Services, it's our pleasure to see this growth continue and we look forward to seeing Mecsia continuing to drive the transformation of the technical services inspection and maintenance industry."
Investment Director at Rockpool, Tom Coey adds: “Our highly successful exit of Mecsia is another landmark transaction for Rockpool investors. We have thoroughly enjoyed our three-year partnership with Mecsia and congratulate the management team on building a market-leading technical services platform. We want to thank Taylor Wessing for continuing to provide excellent, commercially-focussed advice, and whose knowledge of the market has been pivotal in guiding Rockpool and Mecsia through our investment cycle and this exit."
Jon Coiley, CEO of Mecsia, comments: "Three years ago we created this unique technical services group. Our vision was to deliver high quality, tailored services for every one of our customers and to be able to self-deliver these services right across the UK. The Taylor Wessing team did a fantastic job, providing unrivalled dedication and invaluable experience in ensuring the successful planning and seamless execution of the transaction."
Completion of the transaction is subject to regulatory approval.
The deal was led by private equity partner Jonny Bethell, senior associate Omar Amin, and associates Callum McLean and Lara McKeown. Further support was provided by:
Banking and Finance
Partner Lerika Le Grange, senior associate Kate Bowden and associate Christian Wiltshire
Employment and Pensions
Partners Anna Taylor and Sean Nesbitt, senior counsel James Watkins, senior associate Georgina Wardrop and associate Caroline Gillespie
Competition, Trade and Foreign Investment
Partner Paolo Palmigiano and senior associate Elisabetta Rotondo
Real Estate
Partner Emma Oakley and associate Francesca Gibbs
Tax
Partner Liz Wilson, senior associate Sally Robertson and associate Freddie Knottenbelt
Technology, IP and Information
Partner Sian Skelton and associates Megan Lukins and Laura Craig
