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Azets Corporate Finance has advised the Wescott Group on its sale to Coriant, a leading UK industrial services platform backed by HIG Capital.
The two specialist businesses will become part of the Coriant group: Wescott Industrial Services, providing specialist industrial coatings, fire protection and industrial maintenance services, and SGS, an access solutions provider serving complex industrial environments.
The procurement will strengthen Coriant’s presence in the UK and its technical capabilities across critical infrastructure, industrial processing, energy and defence-related markets, whilst also providing both businesses with access to greater resources and long-term investment support.
The deal is supported by HIG Capital, a large investment firm, delivering specialist services across the full lifecycle of industrial and infrastructure assets to supporting customers throughout installation, maintenance, refurbishment and decommissioning programmes.
The deal follows Coriant’s prior acquisition of SCA earlier this year, a transaction on which Azets Corporate Finance also acted as adviser.
Lee Humble, UK head of Corporate Finance at Azets, said: “This is a significant transaction for all parties and represents another important milestone in the continued evolution of the UK industrial services sector.
“Wescott Industrial Services and SGS have built exceptional reputations within their respective markets and have established long-standing relationships with customers operating in some of the UK’s most demanding industrial environments. Coriant has rapidly emerged as a highly credible platform within the sector.”
He added: “Supported by HIG Capital’s considerable resources and investment expertise, the group has demonstrated a clear vision for growth and the ambition to create one of the UK’s leading industrial and infrastructure services businesses.
“Having previously advised on Coriant’s acquisition of SCA earlier this year, we have seen first-hand the quality of the platform being created and the strategic rationale behind its expansion.”
Mark Duffy, managing director, Wescott Group, said: “Partnering with Coriant represents the right strategic step for the business, providing the scale, capability and vision to accelerate our growth.”
James Salkeld, managing director, SGS, added: “Coriant offers a strong platform to build upon our existing strengths while unlocking new opportunities across a broader client base.”
