Maven Capital Partners
In June 2015 Maven realised its investment in environmental services and equipment specialist MSIS, via a sale to London-based Primary Capital for £19.5 million. The exit achieved a 3.3x total multiple return on the original investment for Maven client funds. Since its launch in 1998, MSIS has grown to become an independent and trusted adviser to the global oil and gas industry, offering an increasing range of skills, equipment and services. At the time of sale the company employed 80 people, and had established a proven track-record in specialist cleaning, asset maintenance and waste management.
The team at Maven first invested in MSIS in 2007 when it supported a £6.1 million buy-in management buyout and provided a further £3.35 million of funding over the subsequent years to facilitate growth. With Maven’s support, revenues more than doubled while profitability increased three fold since the original investment. The business also made substantial investment into equipment and facilities at its bases in Invergordon and Aberdeen, and began to focus more strategically on specialised work within the sector, leading to a record year in terms of profitability for MSIS prior to sale.