Houlihan Lokey Advises Investcorp

Houlihan Lokey is pleased to announce that Investcorp, a leading global alternative investment firm, has acquired a majority stake in Smart Managed Solutions (Smart), a fast-growing U.K. provider of mechanical and electrical (M&E) facilities management services. As part of the transaction, Smart’s co-founders will retain a meaningful minority stake in the business.

Founded in 2017 and headquartered in London, Smart is a specialist provider of critical M&E maintenance services, including HVAC, electrical, fire, water, and gas systems. The company focuses on high-quality commercial office buildings and technical end markets such as life sciences, education, digital infrastructure, and public sector assets. Smart has established a differentiated reputation through its consistently high-quality service, data-led delivery model, and strong relationships with blue-chip managing agents and direct clients. The business has delivered strong performance, generating over £100 million in revenue today and achieving more than 30% annual organic growth in recent years, driven by increasing demand for high-quality, reliable, mission-critical facilities management services in a large, resilient, and highly fragmented market.

Under Investcorp’s ownership, Smart is expected to pursue further organic growth, alongside a targeted M&A strategy to expand into new end markets and regions across the U.K. Investcorp will support the business in its next phase of development, including continued investment in technology and further professionalisation of the organisation.

Investcorp is a global investment manager specialising in alternative investments across four asset classes: private equity, real assets, credit, and liquid strategies. Investcorp manages approximately $62 billion in assets,* including assets managed by third-party managers. Investcorp has 14 offices in the U.S., Europe, GCC, and Asia, including India, China, Japan, and Singapore, and employs approximately 500 people from 50 nationalities globally.

Smart is an innovative, award-winning hard FM provider that is redefining the building maintenance services sector through a data-driven and energy-conscious approach. In an industry where operational resilience, compliance, and sustainability are paramount, Smart offers a smarter way to manage assets and environments. Its technology-first model merges predictive, data-driven maintenance with intelligent energy management, significantly reducing downtime, extending asset life, and lowering operational costs.

Houlihan Lokey acted as the exclusive buyside M&A advisor to Investcorp in connection with the transaction, underscoring the firm’s extensive expertise in the European facilities services sector.

*As of December 31, 2025.

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