Elysian Capital II LP, in conjunction with management, has acquired and invested in SCX Special Projects Holdings Ltd, the Sheffield-based engineering specialist. The move represents the eighth platform investment in the Elysian Capital II LP Fund which closed in July 2015 at £250 million.
Based in Wincobank, SCX Special Projects is a bespoke engineering company providing design, build and installation services for complex lifting, materials handling and kinetic architecture projects.
SCX Special Projects’ CEO Andy Whitworth will continue to lead the business supported by the existing senior management team of Danny Pickard, Dave Little, Nigel Montgomery and Sophie Stead. All of the senior management team have invested in the business to become shareholders. James Cunningham, a partner in Elysian Capital with extensive industry experience, takes over as chairman.
CEO Andy Whitworth said: “We are very excited about the next phase of SCX Special Projects. Our growing reputation, helped by recent high-profile projects, has generated significant enquiries especially from overseas, a market we have only recently started to develop.
“The support of Elysian Capital will allow us to take advantage of the international opportunities that we are now seeing.”
Simon Eastwood, retiring chairman of SCX Special Projects, said: “Having worked with Andy since 1992 and seen the development of SCX into a world leading materials handling and kinetic architecture business, I am delighted to have found a partner who can help take the business to the next level and, as a continuing shareholder, look forward to its future success.”
James Cunningham, Partner at Elysian Capital, said: “With its recent flagship kinetic architecture projects at Tottenham and Wimbledon and its longstanding leading position in bespoke materials handling in the nuclear, aerospace and defence markets, SCX Special Projects has demonstrated the quality of its design and engineering work. We are delighted to be working with Andy and his team to take the business forward in the UK and internationally.”