H&MV Engineering

The deal

The teams

The story

H&MV is a leading specialist in high-voltage (HV) electrical engineering, helping blue-chip clients power critical infrastructure in the data centre, renewables and utilities markets across EMEA.

The company provides turnkey services for the design, procurement, installation and maintenance of HV substations and grid connections, occupying a mission-critical role in its customers’ capital projects and value chains.

Exponent is partnering with the incumbent management team, led by PJ Flanagan and John Stokes, and has introduced John Moore as Chair. We will work with the team to accelerate H&MV’s international growth, expand its design and delivery resource, and enhance its business development capability.

We were attracted to the business by its deep relationships with customers, track record of driving repeat business, significant contracted project pipeline, and exposure to high growth end-markets including renewables and data centres.

In September 2024, with H&MV having grown substantially, Exponent brought in LGT Capital Partners as a lead minority investor to H&MV at a valuation of €750m. Funds managed by Hamilton Lane also made a minority investment via the firm's impact platform.

You can find out more about H&MV’s sustainability journey here.