NBGI gets T Jolly

NBGI Private Equity, a lower mid-market private equity firm, has backed a management buyout of T Jolly, a Lancashire-based mechanical and electrical engineering services provider. No deal terms were provided for the transaction, for which Svenska Handelsbanken provided financing.

NBGI and the management were advised by BDO, Halliwells and Burges Salmon, with the vendor being advised by Tenon and DWF. Pannone advised Svenska Handelsbanken. As part of the transaction, Joseph Bergin of NBGI will join the board of T Jolly.

Founded more than 100 years ago, T Jolly designs and installs heating, ventilation, electrical and air-conditioning systems for new buildings and refurbishments, as well as providing emergency response services to property owners. The company recently expanded through the acquisition of DL Refrigeration, Dutton Plumbing and Norman Peplow. T Jolly has a £20m (US$40m) turnover.

T Jolly is the first transaction for NBGI’s Manchester office and the second from its £100m second fund.