GEV Group
Deal Type
Development Capital
Initial Investment
October 2015
Location
Great Yarmouth
Maven Office
London
About GEV Group
In July 2019 Maven exited from GEV generating a 2.7x return for investors. GEV comprises of three main divisions which operate across multiple markets and global locations; GEV Wind Power, Subsea Masters and GEV Offshore. The Group’s largest entity, GEV Wind Power, is one of Europe’s leading wind turbine blade inspection and repair specialists. Based in Hull, it has established key relationships with wind farm owners and the World’s leading wind turbine manufacturers.
In 2015 Maven invested £5.4 million to support the MBO of GEV and appointed Ron Smith, a former senior Siemens board member as Chairman of the new Group. During the period of Maven’s investment, GEV also made the strategic decision to enter the US market and have since successfully established a foothold in North America.
The sale of the GEV Group is a great return for our investors. The growth of the Group since the MBO is testament to both the quality of the GEV business and its senior management team. We are proud of how we have supported the Directors to execute their strategy during this growth phase, resulting in a business that has significantly expanded its global footprint and improved its service capability and market reputation.
Andrew Symmonds, Investment Director at Maven
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