Maven exits ATR Group

Maven's Aberdeen based team has completed the profitable realisation of its holding in ATR Group via a secondary buyout funded by the private equity manager NBGI. The sale realised a return for Maven investors of 1.7 times the initial investment.

ATR is a market leading provider of rental services for specialist plant, equipment and consumables, with an extensive client base of offshore and onshore energy services maintenance contractors operating in highly regulated environments. The group provides a comprehensive range of added value support services to customers, including health and safety compliance solutions and the inspection and certification of equipment.

Maven client funds invested in the MBI of ATR in May 2007, with the goal of helping the business accelerate its expansion whilst maintaining the quality of its integrated client offering. Despite the challenging global economic environment, the business has steadily improved sales and earnings throughout the period of Maven’s investment, with the Aberdeen based Maven team working very closely with Keith Moorhouse and the management team to drive the business forward. This exit represents another profitable energy services disposal for Maven, which since November 2009 has also achieved profitable exits from Cyclotech and Walker Technical Resources.

Jock Gardiner, Partner at Maven, commented: “This is another profitable exit from an energy services business for Maven client funds and allows the ATR management team to continue its ambitious growth strategy. We have enjoyed working with Keith and the rest of the team since 2007 in what has been a period of considerable development for the business. We wish the team all the very best for their next exciting stage of growth.”

Keith Moorhouse, Managing Director of ATR, said: “Maven’s investment in 2007 allowed us to take forward our growth plans, providing the necessary capital and expertise. Since then and despite a challenging economic climate, we have rapidly grown the business, expanding our client base, our fleet and our global footprint. As we enter a new exciting stage of growth with the right foundations in place, we welcome the investment by NBGI which will enable a step-change in our investment plans for the fleet and allow us to explore opportunities for future acquisitions. This will in turn allow us to offer an enhanced service to clients.”