Exponent
Fund Solutions
14 October 2026
€322 million lending facility to support Exponent's continuation vehicle for H&MV Engineering
Our role
Our UK Fund Solutions team is pleased to have acted as lender, mandated lead arranger and agent on a €322 million facility for Exponent’s continuation vehicle (“CV”), established to continue the firm’s investment in H&MV Engineering (“H&MV”) – a leading global provider of specialist high-voltage electrical engineering and construction services.
The facility supports the acquisition of H&MV into Exponent’s approximately €750 million CV, backed by a strong institutional investor base which is led by Apollo S3, Pantheon and SQ Capital. The oversubscribed CV provides the business with further capital for its next phase of international expansion.
This marks the first transaction completed by our Fund Solutions team for Exponent, extending Investec’s existing relationship with the firm and demonstrating the breadth of our capabilities.
About Exponent
Exponent is a European mid-market private equity manager founded in 2004, with approximately £4.6 billion raised and five flagship funds. The firm invests in companies headquartered across Europe with enterprise values between €150-500 million.
About H&MV Engineering
H&MV Engineering is a leading global high-voltage electrical engineering and construction specialist providing critical infrastructure to the data centre, battery-storage and renewable-energy sectors. Since Exponent’s initial investment in February 2022, H&MV has expanded from a UK and Ireland-focused contractor into an international platform operating across 17 countries, with more than 1,500 employees.
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