Triton Smaller Mid-Cap Private Equity team announces first UK deal
London (United Kingdom), 15 December 2025 - The Triton Smaller Mid-Cap Fund II (“Triton”) announces the formation of Tendra Technical Services (“Tendra” or the “Company”), a newly established platform for consolidating the UK technical services market across the built environment. Tendra initially consists of The James Mercer Group, Fletchers Engineering and Coat Facilities Group.
Tendra brings together businesses with a proven track record of technical excellence, strong client relationships, and a commitment to quality and safety. By combining these capabilities under one platform, Tendra will enhance service delivery through shared expertise and best practices, as well as offer integrated solutions to meet evolving customer needs, with the vision of becoming the national leader in technical services in the UK.
Triton will support Tendra and its group companies on their growth journey by driving organic growth through integrated business development, operational excellence and pursuing additional strategic acquisitions. Triton has substantial experience in technical services sectors across Europe with investments including Assemblin Caverion Group, Unica, bluu Unit and Habeo.
Andi Klein, Managing Partner, Head of Triton Smaller Mid-Cap, said; “We are excited to announce Tendra as our first Triton Smaller Mid-Cap investment in the UK. This marks an important milestone for Triton and reflects our commitment to building high quality platforms in fragmented markets.”
Greg Davies, Group CEO of Tendra Technical Services, said; “Triton is the perfect partner for Tendra as we embark on building a strong and integrated platform. Triton’s experience with family-owned companies and its sector knowledge will be invaluable as we accelerate growth together. We look forward to collaborating with Triton in the years ahead.”
The formation of Tendra Technical Services marks the 11th platform investment made by the Triton Smaller Mid-Cap Fund II, which successfully closed above its fundraising target on €815m in 2021. The fund applies Triton’s proven investment strategy to lower mid-market companies in the same core sectors of Business Services, Industrial Tech, and Healthcare. It uses Triton’s in-house operational capabilities and resources to help management teams build leaders in the lower-mid market.
About Tendra Technical Services
Tendra is an alliance of regional leaders focused on delivering mission-critical technical services in the UK. The platform combines regional expertise with national ambition, leveraging shared capabilities, operational best practices, and strategic acquisitions to create long-term value for customers, employees, and stakeholders.
For further information, visit: www.tendra.com
About Triton
Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.
Triton has over 150 investment professionals and value creation experts across eleven offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.
