Founder Lee Compton will retain a stake in the business and continue in his current role, joined by new Chairman Jim Arnold. Phoenix, which traces its history back to 1931, has established a firm foothold in complex project delivery for blue-chip clients. By leveraging the $75 billion in capital under H.I.G.’s management, the firm intends to scale its service offerings and pursue both organic expansion and bolt-on acquisitions in the European market.

John Harper, managing director at H.I.G. London, pointed to the rapid growth forecast for the company's core end markets as a primary driver for the investment. The partnership aims to capitalize on the increasing demand for high-value engineering services in infrastructure assets that underpin the digital and medical research industries.