H&MV Engineering Secures €1.4 Billion in New Funding for Expansion Plans

H&MV Engineering, a prominent name in high-voltage engineering and critical power infrastructure, has recently announced a significant funding transaction valued at €1.4 billion. This move is supported by a continuation vehicle primarily led by Exponent, the existing investor, and brings new partners, including Apollo S3, Pantheon, and SQ Capital, into the fold to support the company’s ambitious growth plans.

The transaction involves a substantial investment of approximately €750 million, which will provide H&MV with the necessary long-term capital to fuel its continued expansion in the U.S. market. The company’s plan is to solidify its workforce, enhance its engineering capabilities, and explore strategic acquisitions — all while aiming for €3 billion in annual revenues within the next five years.

Currently, H&MV is on track to achieve over €1 billion in revenue for the fiscal year 2026, thanks to its robust €2 billion order book and a staggering €16 billion pipeline. This growth trajectory is impressive, especially considering H&MV has extended its revenue from €61 million in 2020 to its expected figure for FY26. The workforce has also seen a remarkable increase, growing from 300 employees to over 1,900 in just a few short years.

The demand for critical power infrastructure is on the rise, driven largely by advancements in artificial intelligence, electrification, battery energy storage, and the ongoing energy transition. H&MV is at the forefront of this transformation, specializing in the design, construction, and energization of high-voltage infrastructure that supports data centers, battery storage, and electrical networks. Their collaborative efforts with leading technology companies, co-location providers, utilities, and renewable energy developers position them as a key player in this rapidly evolving industry.

As part of its growth strategy, H&MV will open its North American headquarters in Dallas later this year. Since its entry into the U.S. market in late 2025, the company has been strategically investing in senior leadership and enhancing its project delivery capabilities to better support its expansion.

P.J. Flanagan, the CEO of H&MV Engineering, expressed confidence in the funding transaction, stating, “This transaction gives HMV the long-term backing to scale at the pace of the markets we serve and to deliver on our five-year growth ambition. With the continued support from Exponent and new investments from international investors, we are poised to accelerate our global expansion.”

Tim Easingwood, a partner at Exponent, also commented on the successful partnership, highlighting that H&MV embodies the qualities of an ambitious, entrepreneur-led business. He noted that this continuation vehicle marks a significant milestone for both H&MV and Exponent, reflecting the company's management excellence and its role in supporting global critical infrastructure.

John Moore, Operating Partner at Exponent and Chair of H&MV Engineering, emphasized the unique position H&MV holds in the infrastructure market and the approach they must take to deepen customer relationships and invest in innovative capabilities.

This transaction is pending regulatory approval and is anticipated to be finalized by September 2026, marking a critical phase in H&MV's growth story. With Lazard advising on the financial aspects and Arthur Cox along with White & Case taking care of the legalities, H&MV Engineering stands poised for a prosperous future.

About H&MV Engineering

H&MV Engineering has established itself as a global leader in high-voltage electrical engineering, providing comprehensive solutions for energy, data centers, and industrial infrastructure. With a commitment to safety, innovation, and sustainability, H&MV is actively contributing to the green energy transition.

The company oversees over 24 GW of projects across 20 international offices, including sites in Ireland, the UK, Europe, the U.S., and Asia. H&MV continues to set industry standards while supporting a culture rooted in safety, teamwork, and mutual respect. For further details, visit www.hmvengineering.com.