Warburg Pincus swoops in to take majority stake in latest PTSG growth phase
Yorkshire-based technical services group Premier Technical Services Group (PTSG) has sold a majority stake of its latest development phase to global investment group Warburg Pincus.
The agreement was struck with Macquarie Capital Principal Finance who acquired PTSG three years ago for £265m.
The new investment from Warburg Pincus marks a significant milestone for Castleford-based PTSG as it enters its next phase of growth.
PTSG is a provider of specialist building compliance services, including fire and electrical compliance services, fall protection and façade access services.
It employs 1,400 people across 37 UK sites, servicing more than 180,000 buildings in the UK, across a wide range of industries.
Paul Teasdale, CEO of PTSG said: “We are delighted to have secured this new investment from Warburg Pincus and to have the continued support of our existing partner Macquarie Capital in our next stage of growth.
“Together we will continue to cement our position as a leading provider in the compliance services market and continue to consolidate the sector.
“We also would like to thank Macquarie Capital for their ongoing guidance and contribution – which sees them re-investing in the business to help us reach our full potential.”
Adarsh Sarma, Managing Director, Co-Head of Europe at Warburg Pincus said: “We look forward to partnering with Paul and Roger Teasdale and the PTSG management team, alongside Macquarie to expand their suite of solutions and capture untapped growth opportunities in the market.”
David Reis, Managing Director at Warburg Pincus added: “We have been impressed by PTSG’s tremendous track record of growth and with their best-in-class operating model while keeping its customers at the centre of its strategy.”