ABG Corporate Finance has successfully advised the shareholders of Masterfix GB Limited on an investment by UK-based private equity house Coniston Capital. Deal terms have not been disclosed.
Masterfix is a provider of property care services to owners, occupiers and managers of a diverse range of residential and commercial properties. Masterfix’s directly-employed engineers and service partners provide a ‘one-stop-shop’ solution for professional property owners and managers across Greater London, and in more recent years throughout Scotland’s central belt. Services include planned, preventative fixed asset servicing; 24/7 multi-trade reactive maintenance; health and safety compliance testing and certification; and refurbishment and renovation projects. Through its Insurance division, Masterfix also undertakes reinstatement works at residential properties arising from insurance claims, acting on behalf of the insurer either as a direct supplier or via an approved Insurance Network. The business has successfully more than doubled revenue and tripled EBITDA during the last five years.
Coniston Capital was co-founded by Amit Hindocha and George Tsangarides in May 2021 with a goal of investing in smaller management buy-outs (‘MBOs’). The investment represents Coniston’s first investment.
Chris Ball, Managing Director at Masterfix said: “This is an exciting time for Masterfix and in Coniston we believe we have found the right partner. We are genuinely delighted with our association with Kristian and the team at ABG Corporate Finance who have diligently and attentively steered us through the investment process, demonstrating total understanding of our business alongside commitment and professionalism throughout. We can’t thank them enough.”
Kristian Gavan, Partner, who led the ABG Corporate Finance team, commented: “It has been a pleasure to advise the shareholders at Masterfix and to help them identify a true partner in Coniston. The team has built an exceptional business focused on delivering the highest quality of service. The continued success of Masterfix is a testament to the strength of their culture and skill of the management team.”