CVC to Buy UK Infra Contractor M Group in £1 Billion Deal (1)

CVC Capital Partners Plc has agreed to buy UK-based infrastructure contractor M Group Services, marking another deal for the private equity giant.

The transaction is expected to complete in the third quarter, it said in a Thursday statement, which didn’t disclose any financial terms. It values M Group at slightly over £1 billion ($1.3 billion), according to people familiar with the matter.

CVC is buying the business from fellow buyout firm PAI Partners. It’s investing in M Group out of Fund IX, which closed at €26 billion ($28 billion) last year.

M Group provides services including design, ...