Squire Patton Boggs has advised the management team of H&MV Engineering, a global provider of specialist high-voltage engineering and critical power infrastructure services, on the recent transaction to establish a continuation vehicle of approximately €750 million, led by existing investor Exponent, valuing the business at €1.4bn.
The transaction extends Exponent’s investment in H&MV and brings in Apollo S3, Pantheon and SQ Capital as investors to support the company’s next phase of international growth. The transaction is subject to regulatory approval and formal completion, expected in September 2026.
The team advising was led by partner George Kennedy and included partners Ben Squires and Matt Lappin in London, and senior associate Eva Giblin and associate Ciara Downes in Dublin.
H&MV Engineering designs, builds and energises high-voltage infrastructure that enables data centres, battery energy storage and electricity networks, working with leading hyperscale technology companies, co-location providers, utilities and renewable energy developers. H&MV currently has over 24 GW of projects in design and construction and operates from 20 international offices across Ireland, the UK, Europe, the US and Asia.
The new investment structure provides long-term capital backing for H&MV’s continued expansion in the US, recruitment across its international operations, investment in new engineering capabilities and strategic acquisition opportunities.
PJ Flanagan, CEO, H&MV Engineering, said, “This is a significant transaction that secures long-term backing for our global expansion plans, with continued investment from Exponent and new funds from international partners. We’re delighted to have had George Kennedy, a trusted advisor for many years, and his excellent team at Squire Patton Boggs support management throughout this process and help deliver this major funding deal.”
