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Maven Sells Commercial Maintenance Firm DPP in Up to 2.5x Return

Private equity firm Maven Capital Partners has completed the sale of DPP, a commercial maintenance contractor, generating a return of up to 2.5 times for its client funds, according to people familiar with the matter.

The deal marks Maven's exit from an investment it first made in 2016. DPP provides maintenance and facilities management services to commercial, industrial and public sector clients across the UK. Terms of the transaction were not disclosed.

The sale comes amid heightened merger and acquisition activity in the facilities management sector as private equity firms seek to consolidate smaller regional players into larger national platforms. Earlier this year, Aurelius acquired Regional Services Group, a facilities management provider, in a deal sources said valued the company at around £100 million.

"The facilities management sector has seen significant M&A over the past 12-24 months as private equity firms look to build scale and capture market share," said Alex Collins, a partner at advisory firm Arrowpoint. "Buyers are attracted to the recurring revenue and defensive qualities of these businesses, even in a challenging economic environment."

Maven first invested in DPP in 2016, backing the company's management team to execute a buy-and-build strategy. Over the past six years, DPP has completed several acquisitions to expand its geographic reach and service offering.

"DPP has delivered an excellent return for our investors," said Gareth Price, a partner at Maven. "The company has demonstrated the ability to grow both organically and through acquisition, establishing itself as a leading provider of commercial maintenance services."

The sale of DPP continues Maven's track record of successful exits in the industrial and business services sectors. In 2021, the firm sold Indigo Software, a supply chain management software provider, to Advanced for an undisclosed sum.