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Patience and perseverance are two key ingredients for success in the ETA space. After nearly four years of intensive search, Innocent Udia, who launched his search fund Maple House Capital in late 2021, has successfully acquired Millenium Site Services and Millenium Properties from shareholders Lee and Debra Quince and Danielle Clarke. Millenium is a market-leading provider of site services and engineering solutions to the UK rail repair and refurbishment sector. Debt funding was provided by HSBC, and the buyout was supported by a consortium of diversified entrepreneurial investors, led by Giorgi Pailodze of Wavebridge Capital and Richard Turner, owner of Blackstone Advanced Technologies LLC, a U.S.-based specialist in advanced manufacturing and engineering solutions for the rail and industrial sectors. Both will join the Board of Directors of the company.
Founded in 2000 by Lee Quince, Millenium Site Services has grown into a nationally recognized one-stop shop for spray painting, repair, and engineering services. Its integrated service model, offering both on-site and in-house solutions, supports clients such as Hitachi, Alstom, and East Midlands Railway, helping them reduce downtime and improve operational efficiency across fleets and facilities. The company reported a turnover of £15M and a Profit after Tax of £2.8M.
“Millenium Site Services has been a huge part of our family’s life for many years, and seeing it grow into the business it is today has been a source of great pride. When the time came to find the right partner, Innocent Udia stood out for his understanding of what makes our business unique, his shared values around quality, and his belief in its people. We are excited to see the company continue to grow and evolve under his stewardship,” said Lee Quince.
The acquisition marks a significant milestone for Millenium, positioning the business for continued expansion across the UK’s transport infrastructure sector.
Innocent Udia, founder of Maple House Capital, commented: “From our earliest conversations, it was clear that Millenium Site Services was built on strong values, hard work, and a deep commitment to its customers and people. The family has created something truly special, and we are honored to be trusted with the next chapter of that story. Our focus will be on supporting the team, investing in growth, and building on the foundations that have made the business such a respected name in the industry.”
M&A: PKF Smith Cooper / Legal (V): Flint Bishop / DD: Buzzacott / Legal (B): Marriott Harrison
