NES places contract engineers and project managers with multinational clients in the oil and gas industries, and in the power and infrastructure sectors.
Graphite backed a management buyout of the business, led by Neil Tregarthen, in September 2006 at an enterprise value of £70m.
NES’ net fee income has more than doubled and EBITDA trebled since 2006, Graphite said. The company has also rolled out 20 new offices since the MBO, taking the total around the world to 32.
In addition to NES, Graphite has investments in recruitment process outsourcing company Alexander Mann Solutions and oil and gas services company Dominion Gas. Previous investments include general recruitment firms PSD Group and Huntress.
Graphite senior partner Mike Tilbury said, “NES is a high quality business run by a very strong management team.
“Its financial track record in recent years has been exceptional. NES has grown strongly despite unprecedented macro-economic turmoil and is well positioned to continue to take advantage of the substantial global growth opportunities in its target markets.”
AEA Investors was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and SG Warburg & Co as a private investment vehicle for industrial family offices.
The firm has offices in New York, Connecticut, London, Munich, Hong Kong and Shanghai and manages funds that have over $6bn of invested and committed capital.
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