H&MV Engineering Valued at €1.4 Billion in Major Private Equity Continuation Deal

## H&MV Engineering Secures €1.4 Billion Valuation in Landmark Funding Round H&MV Engineering, a specialist in high- and medium-voltage electrical infrastructure, has been valued at €1.4 billion following a significant new funding transaction, according to a PR Newswire announcement. The deal sees investment heavyweights Apollo S3, Pantheon and SQ Capital joining an Exponent-led continuation vehicle exclusively dedicated to the Irish engineering firm. The transaction underscores growing investor confidence in the energy infrastructure sector, with H&MV's FY26 revenues expected to exceed €1 billion. The company currently holds a €2 billion order book and a forward pipeline valued at approximately €16 billion — figures that signal substantial long-term demand for high-voltage grid and substation engineering services. ### Strategic Significance for Energy Infrastructure While H&MV Engineering operates primarily in the onshore electrical infrastructure space, its work is closely tied to the broader maritime and offshore energy sector. High- and medium-voltage engineering is a critical enabler of offshore wind farm grid connections, port electrification projects and the onshore transmission networks that underpin the energy transition across Europe and beyond. The continuation vehicle structure — increasingly common in private equity — allows existing investors to extend their holding period while bringing in new long-term capital partners. This approach provides H&MV with the financial runway to pursue its substantial project pipeline without the pressure of a near-term exit event. ### Investor Confidence in the Energy Transition The scale of the transaction reflects the accelerating pace of investment in electrical grid infrastructure across Europe, driven by the continent's ambitious renewable energy targets and the electrification of industrial and maritime sectors. Grid connection bottlenecks have emerged as one of the most significant constraints on offshore wind development, making specialist firms like H&MV increasingly strategically valuable. Exponent, the lead investor, has positioned the continuation vehicle as a long-term capital backing mechanism to support H&MV's growth trajectory as it scales to meet demand from utilities, grid operators and renewable energy developers. The deal is expected to provide H&MV with the resources to expand its workforce, invest in project delivery capabilities and pursue larger, more complex contracts across its target markets. *Source: PR Newswire / Heavy Industry*