M Group sold to new private equity group

Infrastructure contractor M Group is being sold to another private equity firm after six years of strong growth.
Existing owner PAI Partners will sell the business, formerly called Morrison Utility Services, to CVC Fund IX in a deal expected to complete this autumn.
CVC said it aimed to work closely with M Group Services’ management team to accelerate its organic growth, complemented by further strategic acquisitions.
Under PAI’s ownership M Group’s revenues rose from £1b