Telent’s £500m annual revenues come from a range of activities related to the installation and service of broadband telecoms and digital infrastructure systems – including connecting traffic lights and CCTV cameras to traffic controls centres.
Telent’s clients across the UK and Ireland include Transport for London (TfL), National Highways, Network Rail, Virgin Media O2, BT, EE and Openreach – which are all also clients of various M Group companies.
The transaction is subject to regulatory approval.
M Group chief executive Andrew Findlay said: “This is a hugely transformative deal for M Group and I am delighted Telent is joining us. We recognise the strength of Telent’s differentiated capabilities, market position and talented people that make it a great business. With the acquisition of Telent, M Group will be even better placed to deliver essential infrastructure services for life.”
“Our ambitious growth strategy reflects a combination of organic and inorganic growth and this acquisition builds on our strong track record of strategic M&A. It will enable us to deliver even greater value and expertise to our clients and so help the people, communities and economies of the UK and Ireland adapt to a changing world.”
Telent chief executive Jo Gretton added: “Joining M Group marks an exciting new chapter for Telent, reinforcing our leading position in network and technology solutions.
“Telent is a business with a long trading heritage and an excellent reputation. With M Group’s extensive infrastructure expertise and scale, we are well placed to accelerate our growth and continue to be a trusted partner for organisations at the forefront of the digital revolution.”
Telent’s heritage dates back to General Electric Company and Marconi. Telent emerged as the part of Marconi that Ericsson did not take over in 2006.
Dominic Murphy, managing partner and co-head of the UK team at CVC, said: “Since CVC acquired M Group last year, the business has taken major strides forwards in the delivery of its ambitious strategy to strengthen its capabilities and enhance its solutions offering for clients.
“This latest acquisition transforms M Group’s digital and technology capabilities and accelerates its growth momentum, taking pro forma revenue to over £3 billion.”
M Group Services began life as a part of Morrison Construction that was acquired by Anglian Water in 2000 and then spun out as Morrison Utility Services in 2008 under its first round of private equity owners. New private equity owners took over in 2016, rebranded it as M Group Services then sold it again in 2018. CVC Capital Partners took over in 2024, its fourth owner since 2008.