A Gloucestershire-based provider of surveying services has been sold in a multimillion-pound deal. Midland Survey Limited (MSL) has been acquired by private-equity backed environmental services company Lucion Services, supported by Palatine Private Equity and HSBC.
MSL, which has an office at Spillmans Court in Stroud, provides specialist surveying services - including measured building surveys, underground utility surveys, topographical surveys, 3D modelling and CCTV drainage surveys - to sectors including infrastructure, commercial, residential and the public sector.
David Johnson, managing director at MSL, said: “We are extremely excited to be joining Lucion Group and thank Wright Hassall for their support and advice on this deal. We are looking forward to a bright future as part of the Lucion Group, one that will be beneficial to all our clients.”
Law firm Wright Hassall completed the legal elements of the agreement for the founder shareholders of MSL. Steve Halkett, Wright Hassall partner and head of corporate team, advised on the deal.
He said: “Since forming in 1988, MSL have grown their reputation as trusted suppliers of skilled surveying experts nationwide. I am really pleased Wright Hassall has been able to assist in the next step of their journey.”
MSL is the fourth acquisition for Lucion Group in the last 12 months. Lucion chief executive Phil Rozier added: “To complete our fourth acquisition in 12 months is a remarkable achievement. Having completed 12 acquisitions in total so far, Lucion has created the true environmental services platform that it set out to build. "
Heligan Group (corporate finance) and LDP Luckmans (accounting and tax) also acted for the founder shareholders of MSL in the deal, while Addleshaws (corporate legal) and BDO (financial due diligence) represented Lucion.
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