HIG Capital, a leading global alternative investment firm with $64 billion in assets under management, announced that an affiliate of the firm has acquired Axis Europe Limited, a leading UK property management services company, from its founder and owner, John Hayes. Mr. Hayes will reinvest alongside HIG and join the board as a non-executive director. Financial terms of the transaction were not disclosed.
Axis provides planned maintenance, rapid repairs and refurbishment to social housing and local authority clients and has built a strong reputation as a trusted long-term partner to the UK's largest local authorities and housing associations. Axis has grown significantly, steadily and organically over the past 20 years.
HIG will combine Axis with its existing portfolio companies, CLC Group and Huawei, which it acquired in June 2023, combining two highly complementary businesses to create a leading national property maintenance specialist with extensive experience across a range of end markets and maintenance verticals.
Important Quotes:
“We are pleased to join forces with CLC to create a large national contracting operator with significant geographic and operational synergies. HIG's investment in both companies will enable the Group to benefit from the significant opportunities that exist across all sectors and regions.”
John Hayes, founder and CEO of Axis
“We are excited about this transaction, which comes on the back of a property renovation market that is set to see significant investment over the next decade.”
John Harper, managing director of HIG in London
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