Prefequity invests in Lancashire-based engineering firm

WH Good is a family-run provider of mechanical and electrical engineering services based in Haslingden, Lancashire.

Founded in 1922, WH Good provides mechanical and electrical engineering (“M&E”) services to customers across sectors including utilities, transport infrastructure, local government, manufacturing and process industries.

Nick Petrusic, Senior Partner at Prefequity, who will join the board of WH Good, commented: “We are delighted to be partnering with WH Good. The management team has built a strong franchise in the M&E sector that enjoys a high level of recurring revenue from repair & maintenance expenditure, backed by long-term framework agreements. The longevity of its key customer relationships is a testament to the flexible, high-quality service that the company provides. This transaction underlines our continued focus on well established businesses that offer investors strong downside protection combined with the opportunity to generate attractive returns through our equity ownership.”

Paul Sumner, Director at WH Good, added: “The Prefequity team delivered a bespoke funding package that was a creative alternative to a traditional lending structure. We look forward to working together over the next few years as we continue to grow WH Good and deliver value for our customers and shareholders.”