M&A Deal Summary

Averroes Capital Acquires Glacier Energy

On January 1, 2024, private equity firm Averroes Capital acquired energy services and equipment company Glacier Energy from Maven Capital Partners

Acquisition Highlights
  • This is Averroes Capital’s 1st transaction in the Energy Services and Equipment sector.
  • This is Averroes Capital’s 2nd transaction in the United Kingdom.

M&A Deal Summary

Date 2024-01-01
Target Glacier Energy
Sector Energy Services and Equipment
Buyer(s) Averroes Capital
Sellers(s) Maven Capital Partners
Deal Type Secondary Buyout

Target

Glacier Energy

Aberdeen, United Kingdom
Glacier Energy offers specialist engineered solutions to the oil & gas industry and global energy sectors, through its engineering and offshore divisions. Glacier Energy Services was founded in 1996 and is based in Aberdeen, United Kingdom. ,

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Buyer(S) 1

DESCRIPTION

Averroes Capital is a private equity firm focused on partnering with ambitious management teams in the UK and Ireland. It invests £15–£40 million in mid-market companies across sectors like business services, healthcare, education, and software. The firm supports growth through strategic guidance, operational improvement, and M&A. Averroes targets niche market leaders and uses flexible capital via single-asset funds. Averroes Capital was founded in 2019 and is headquartered in London, England.


DEAL STATS #
Overall 2 of 2
Sector: Energy Services and Equipment M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: United Kingdom M&A 2 of 2
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-07 Journey Hospitality

Cheltenham, United Kingdom

Journey Hospitality is a hotel technology business revolutionising eCommerce for the hospitality industry, maximising online experiences to drive commercial success. Its portfolio includes onejourney® - the first all-in-one eCommerce platform for hotels enabling guests to customise their own stay by booking rooms, spa, dining and retail products in a single shopping basket, and Gifted - the UK’s market-leading hotel gift voucher platform. Journey Hospitality was founded in 2012 and is based in Cheltenham, England. Journey Hospitality

Buy -

Seller(S) 1

SELLER

Maven Capital Partners

Glasgow, United Kingdom

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2009
PE ASSETS 760M GBP
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Maven Capital Partners UK LLP (MCP) invests in lower mid-market companies throughout the UK. The Firm also provides mezzanine financing. MCP focuses on profitable companies with proven track records, balanced management teams, and diverse products and services. Maven looks to invest £2 - £20 million in businesses valued from £10 - £40 million. Sectors of interest include specialist manufacturing, health/pharmaceuticals, energy services, leisure, financial services, software and computer services, communication/IT, chemicals, food/beverage, media, consumer products, and support services. Types of transactions include MBOs, MBIs, BIMBOs, take privates, recapitalizations, and growth capital financings. Maven Capital Partners UK LLP was formed in 2009, following a management buyout of Aberdeen Asset Management's Private Equity division. Maven is based in Glasgow with additional offices in Aberdeen, Birmingham, Edinburgh, London and Manchester.


DEAL STATS #
Overall 71 of 86
Sector: Energy Services and Equipment M&A 6 of 7
Type: Secondary Buyout M&A Deals 18 of 21
Country: United Kingdom M&A 69 of 84
Year: 2024 M&A 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-19 AMufacture

Portsmouth, United Kingdom

AMufacture provides value-added in-house manufacturing and associated services for a wide range of clients, specialising in 3D printed parts, composite tooling, as well as computer-aided design (CAD) and design optimisation. AMufacture partners with businesses as an extension to their workflow, offering end-to-end production services that range from project inception, consultation, and design optimisation to prototype development, ramp-up, and scale production. AMufacture was founded in 2018 and is based in Portsmouth, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-04 Cytox

Oxford, United Kingdom

Cytox provides non-invasive, risk assessment and patient stratification tools for Alzheimer's disease and dementia. Cytox’s mission is to transform how new treatments are developed, people are screened, and how patients are managed within the Alzheimer’s disease care pathway. Cytox was founded in 2013 and is based in Oxford, United Kingdom.

Sell -