Clearwater International advised Hermes Private Equity on its £55 million acquisition of Beck & Pollitzer, the leading European engineering services business, from Bank of Scotland Integrated Finance. Beck & Pollitzer specialises in the installation and relocation of industrial plant and machinery and associated services and has a market leading position in the UK and across Europe. The company has a blue chip international client base across a wide range of sectors including automotive, printing, canning, pharmaceutical and aerospace.
It is benefiting from the growing trend for relocation among Western European manufacturers to Central and Eastern Europe and also the high levels of investment and new installation activity to meet increasing consumer demand in these markets.
Beck & Pollitzer has 15 offices in the UK, Czech Republic, France, Germany, Hungary, Poland, Russia and Slovakia and has a skilled workforce of nearly 300 full-time employees.
Hermes Private Equity is backing the existing management team which consists of chairman Michael Barry, managing director Norman Davies, finance director Stephen Slater and business development director Tony Percival. RBS provided debt facilities. Linklaters provided legal advice to Hermes. Close Brothers Private Equity and law firm Travers Smith advised Beck & Pollitzer.