Another successful exit for Prefequity with WH Good

Prefequity has exited its investment in WH Good, a long-established provider of mechanical & engineering services in the North West.

Founded in 1922, the company has built a reputation across its chosen industry verticals for excellence in mechanical & electrical engineering, instrumentation and integrated automation.  

In 2019, Prefequity provided a long-term investment to finance the acquisition of a controlling stake in the business. Over the five years of Prefequity’s involvement, management has built on the company’s long-standing relationships with clients to increase sales by around 50%. The addition of new and extended framework agreements and taking on broader lead contractor roles have led to improved levels of profitability in a challenging market environment. The company goes into 2025 with a solid foundation for continued growth and a healthy pipeline of new projects.

The exit was achieved via a refinancing.

Nick Petrusic, Senior Partner at Prefequity and a board member of WH Good, commented: “We are delighted with the performance of our investment in WH Good. It’s further evidence of our ability to deliver attractive returns to investors with robust downside protection by identifying and backing ambitious management teams in first-class businesses”.
 
Prefequity is an independent firm that invests in lower middle-market firms across the UK by providing capital solutions to support their growth plans and strategic transactions. In particular, it offers ambitious owner-managers a non-controlling and less dilutive alternative to private equity.