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Aussie giant Macquarie swoops for Metcor in £100m deal | Money News


Macquarie, the Australian financial giant, has struck its latest British takeover deal with a swoop on Metcor Group, a provider of drainage and maintenance services to commercial customers.

Sky News understands that Macquarie Capital, which invests from its parent’s own balance sheet, has agreed a deal with Metcor’s founders.

The transaction is said to value the target at about £100m.

Metcor comprises three companies: an environmental arm specialising in drainage maintenance and remediation; Anglo Pumps, which maintains and installs pumps, motors and fans; and Aylesford Electrical, which provides electrical services for commercial properties.

An industry source said that corporate financiers had been advising Metcor on its options, including talks with several prospective investors.

The deal adds it to a UK portfolio owned by Macquarie Capital which includes Matrix Networks Group, a provider of specialist utility infrastructure, and Zenzero, which offers IT managed services to SMEs.

More broadly, Macquarie is among Britain’s biggest inward investors, with funds managed by the firm ranking as the largest shareholder in financially troubled Southern Water.

The water group is in the middle of a major fundraising which includes a large capital injection from Macquarie-managed funds.

The Australian group also, controversially, owned Thames Water, which is now engaged in a protracted battle to avoid temporary nationalisation.

Macquarie declined to comment.


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