Press Release

Macquarie completes acquisition of the UK’s Premier Technical Services Group for more than £300 Million

London, 31 July 2019

Macquarie’s Principal Finance business (Macquarie) has today announced the successful completion of its latest private equity investment, the acquisition of the UK’s Premier Technical Services Group (PTSG) - at an enterprise value of over £300 million. 

PTSG is a leading provider of specialist health and safety testing and services in the United Kingdom (UK), including façade access and fall arrest equipment services, lightning protection and electrical testing, specialist building access and fire services. Headquartered in West Yorkshire, England, PTSG employs around 1,200 people across 31 UK sites, servicing more than 180,000 buildings in the UK, across a wide range of industries.

Following positive dialogue with Macquarie, the Board of Directors of PTSG unanimously decided to recommend Macquarie’s cash offer in June this year, with shareholders voting in favour of the proposed takeover in late July. The process has been overseen by The Panel on Takeovers and Mergers in the UK and was fully sanctioned in court yesterday. Completion of the acquisition will see PTSG delisted from the London Stock Exchange from 1 August 2019.

PTSG will now benefit from access to Macquarie's flexible balance sheet funding, which will support the company to continue with its acquisitive growth strategy, driven by Chief Executive Paul Teasdale and Managing Director Roger Teasdale who retain their roles and continue to lead the firm.

PTSG's Chief Executive Paul Teasdale commented: “We have been on an incredible journey so far with PTSG and we look forward to taking the business to a new level with the support of the Macquarie’s Principal Finance team. With access to the capital and expertise brought by the Macquarie platform we are positioned to capitalise on the strong opportunities we see in health and safety testing and compliance.”

Adam Joseph, a Senior Managing Director for Macquarie’s Principal Finance team, said: “We are delighted to have completed this transaction, which continues our track record of investing in high quality, resilient businesses with substantial recurring revenue characteristics. From carve out transactions to minority partnership capital or public-to-privates, we seek out opportunities involving situational or transactional complexity, allowing us to back great businesses at fair prices. We look forward to supporting the strong management team at PTSG to continue their success story.” 

Macquarie has had a presence in the UK for 30 years, opening its London headquarters in 1989. Today, Macquarie is one of the largest investors in the UK, having invested and arranged more than £40 billion in infrastructure projects since 2005. Since 2009 Macquarie’s Principal Finance team has provided financing and investment capital on a flexible and bespoke basis for over 500 companies, deploying over £22 billion globally. 



Media contacts

Australia and New Zealand
T: +61 2 8232 2336
Email regional contact

T: +1 212 231 1310
Email regional contact

T: +852 3922 4772
Email regional contact

Europe, Middle East and Africa
T: +44 20 3037 4014
Email regional contact