Key Capital advised TSG Group on its acquisition of Skerritt Electrical

Key Capital is pleased to announce it acted as the exclusive financial advisor to TSG Solutions Group SAS (“TSG”),  the leading European provider of technical services for responsible mobility solutions, on its acquisition of Skerritt Electrical (“Skerritts”), a leading UK electrical design-and-build contractor in the commercial, industrial and residential construction sectors specialising in electrical installation and maintenance services. 

Skerritts’ extensive offerings in the UK will accelerate TSG’s ability to deliver turnkey electrical solutions to UK clients across diverse projects and sectors and aligns with its strategy to capitalise on green energy opportunities for mobility.

TSG is a key enabler of the energy transition for mobility. TSG designs, builds, and maintains all types of energy distribution infrastructures for mobility: electric vehicles charging network, LPG/LNG, hydrogen and also fuel/biofuel service stations. TSG offers a one-stop-shop (equipment sale, projects and maintenance services, digital payments and systems) for innovative energy and retail solutions.

TSG serves all types of clients, in the public and private sectors from local authorities and retail to gas station networks and companies fleet installations.  TSG, owned by its management and entrepreneurial PE investor Groupe HLD, is active in 30 countries, employs over 6,000 people and has annual revenues in excess of €1 bn.

Founded in 1986, Skerritt Electrical is a Birmingham based electrical engineering services provider within the commercial, industrial and residential construction sectors that offers turnkey electric installations for energy-efficient buildings and greener infrastructure, including installing EV chargers, and solar and battery storage solutions.

Strategic rationale for the deal

The transaction represents the third acquisition by TSG in the UK as part of its inorganic new energies growth strategy across Europe. The acquisition consolidates TSG’s leadership in electrical EPC contracting, enhances its support for customers in their energy transition initiatives and allows Skerritts to expand and leverage TSG’s expertise in new energies to further strengthen its service offering.

Key Capital acted as the exclusive financial advisor to TSG in this transaction, identifying Skerritts as an attractive strategic fit and providing end-to-end transaction execution services. Key Capital will continue to work with TSG across Ireland and the UK for other potential acquisitions.