CVC Capital Partners plc (ENXTAM:CVC) is in advanced talks to buy one of Britain's biggest infrastructure services providers. Sky News understands that CVC, which floated in Amsterdam last month, is the final remaining bidder for M Group (M GROUP Services Limited). CVC is said to have seen off competition from rival bidders including Apollo Global Management, Inc. (NYSE:APO), with a deal expected to be signed in the coming weeks.

The price that CVC, which owns assets including a stake in rugby union's Six Nations Championship, is paying for M Group was unclear on 21 June 2024, although previous reports about the auction pegged its value at about £1.5 billion. Since 2018, it has been majority-owned by PAI Partners, another private equity firm. Investment bankers at Citi are advising PAI on the sale process.

The prospective deal comes amid a flurry of deal making across the infrastructure sector. CVC declined to comment, while PAI could not be reached for comment.