The Chorley-based contractor, which employs more than 800 people, has enjoyed strong growth since being carved out of Amey Utilities by UK-based private investor Rubicon Partners in 2022 and rebranded as Avove.

Latest accounts show revenue climbed to £227m in the year to 31 December 2025 from £216m, while pre-tax profit jumped 29% to £17m.

Financial details of H.I.G.’s acquisition have not been disclosed.

Avove’s management team, led by chief executive Mark Perkins, will reinvest alongside the new owner and remain in place to lead the business.

H.I.G. said it also plans to grow the contractor through acquisitions to broaden its service offering.

The business traces its roots to Enterprise Utility Services, acquired by Amey in 2013 before becoming Amey Utilities and later being spun out under Rubicon ownership.

Avove has established itself as a major design and build contractor for regulated water, wastewater and power clients.

The acquisition is backed by a unitranche financing package from sustainability-focused lender Colesco Capital, marking its first investment in the UK.

Perkins said: “We are proud of what the Avove team has achieved to date by focusing on innovation, quality, and safety, supported by an engaged and passionate workforce. In partnership with H.I.G and Colesco, we look forward to continuing to improve outcomes for the communities we serve while pursuing growth in a market undergoing rapid transformation.”