US private equity firm swoops for Avove

US private equity giant H.I.G. Capital has bought fast-growing utilities contractor Avove, betting on a surge in UK spending on water and power infrastructure.
The Chorley-based contractor, which employs more than 800 people, has enjoyed strong growth since being carved out of Amey Utilities by UK-based private investor Rubicon Partners in 2022 and rebranded as Avove.
Latest accounts show revenue climbed to £227m in the year to 31 December 2025 from £216m, while pre-tax profit jumped