H.I.G. Capital – a leading global alternative investment firm with $64 billion of capital under management – announced that one of its affiliates has acquired Axis Europe Limited, a leading UK provider of property maintenance services, from its founder and owner, John Hayes. Hayes will reinvest alongside H.I.G. and join the board as a non-executive director. The financial terms of the transaction have not been disclosed.
Axis offers social housing and local government clients planned maintenance, responsive repairs, and refurbishment. And it has developed a solid reputation as a trusted, long-term partner to some of the largest local authorities and housing associations in the UK. Axis has delivered significant and consistent organic growth over the past two decades.
H.I.G. will be combining Axis with its existing portfolio company, CLC Group – which it acquired in June 2023, to bring together two highly complementary businesses to create a leading national property maintenance specialist with deep experience across a range of end-markets and maintenance disciplines.
KEY QUOTES:
“We are delighted to join forces with CLC to create a national contractor of scale with great geographical and operational synergies. The investment in both companies by H.I.G. will allow the group to benefit from the huge opportunities that exist across all sectors and regions.”
- John Hayes, Founder and CEO of Axis
“We are excited by this transaction, which is set against the backdrop of a property refurbishment market poised for significant investment in the coming decade.”
- John Harper, Managing Director of H.I.G. in London
