One Blackfriars window cleaners

    Technology

    Supporting the growth strategy of Premier Technical Services Group

    The acquisition of PTSG continues our track record of investing in high quality, resilient businesses with substantial recurring revenue characteristics.

    Sector Technology
    Sub-sector Services
    Location United Kingdom

    Opportunity

    Premier Technical Services Group (PTSG) is headquartered in West Yorkshire and provides tech-enabled specialist testing and compliance services to over 20,000 customers across the UK. The business was founded in 2007 with the objective of becoming the UK’s leading provider in this industry through a combination of acquisitions and organic growth. Macquarie’s Principal Finance team identified PTSG’s potential for strong growth supported by highly recurring testing and maintenance revenues.

    Approach

    PTSG’s directors realised that achieving their ambitions to take the business to the next level would require significant BUT targeted capital investment. Ideally, they were looking for a suitable investment partner who could provide both capital and proven expertise in growing businesses to enable PTSG to benefit from growing opportunities in health and safety testing.

    Outcome

    PTSG delisted from the London Stock Exchange on 1 August 2019 at an enterprise value of over £300 million and now benefits from Macquarie's flexible balance sheet funding, supporting the company to continue with its acquisitive growth strategy - driven by Chief Executive Paul Teasdale and Managing Director Roger Teasdale who continue to lead the business.

    Aerial view of Macquarie Group building at 50 Martin Place Sydney

    The Macquarie difference

    Macquarie made a cash offer to acquire the company and support future growth through direct access to the capital and expertise brought by the Macquarie platform. The Board of Directors of PTSG unanimously decided to recommend Macquarie’s cash offer in June 2019, with shareholders voting in favour of the proposed takeover in late July.

    Learn more

    Related insights

    Explore our insights
    Filter0 items

    Filter

    Technology and services

    View results

    No results message:
    Displayed when filters returns no results.

    Service unavailable:
    Displayed when filter service cannot be reached.

    Sorry, this service is currently unavailable.

    Please try again later.