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M Group buys engineering firm BGEN as revenue tops £2.2bn

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M Group Services has completed the acquisition of BGEN Ltd, one of the UK’s largest independent technical engineering solutions businesses. 

M Group Services CEO Andrew Findlay. Credit: M Group Services.

BGEN provides specialist Mechanical, Electrical, Instrumentation, Control, and Automation (MEICA) capabilities to regulated end markets including power & energy, water, pharmaceutical, and industrial. 

The business has 1,500 employees and serves a range of clients including National Grid, Thames Water, Scottish Water, and Anglian Water. 

Robin Whitehead, chief executive of BGEN, said joining M Group is the “most significant step” in the firm’s history. 

M Group said the acquisition, its second this year, will advance its technical engineering solutions offering in its core markets while expanding into new ones. 

The Hertfordshire-headquartered utilities contractor recently announced its intentions to expand after a strong trading period.      

Turnover for the year ended 31 March 2024 was nearly £2.2 billion, up significantly from the £1.8 billion achieved in the previous financial period, generating a pre-tax profit of close to £24 million (FY2023: £1.3 million).                 

While operating profit surged to £25.3 million, compared to £2.6 million recorded the year prior, with an orderbook valued at £6.4 billion (FY2023: £6.9 billion) and 80 per cent already accounted for in FY2025.    

M Group chief executive, Andrew Findlay, said: “BGEN is a business with a long trading heritage and an excellent reputation and culture that aligns with our own.  

“In line with our strategy, the acquisition of BGEN significantly enhances the technical engineering capability of M Group Services, significantly deepening our ability to provide expert solutions for our existing clients and broad range of new clients, for today and in the future. 

“Together we are even better placed to support the energy transition to net zero, leading the way in maintaining and enhancing essential infrastructure that is continually adapting to a rapidly changing world.  

“I am very pleased to welcome the BGEN team to the M Group Services family.” 

Was this interesting? Try: Construction legends: How Ray O’Rourke built a £4bn business  

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