The company was previously owned by First Reserve, a leading private equity firm exclusively focused on energy.
Jim Arnold, Chief Executive of M Group Services, said the deal is part of the next stage of company's growth.
"Over the past two years, First Reserve's strategic investment in our group has enabled the successful delivery of our business," he said.
"This has resulted in continued profitable growth. We have broadened the markets in which we operate, we have diversified our service offering and we have created a strong foundation for future continued success across the Utilities, Data, Transport and Telecom markets with their support.
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"During the last few months, we have continued to work closely with First Reserve, on the next stage of our growth. As part of this process an opportunity arose that has allowed First Reserve to realise the benefits of their investment to date and for us to introduce PAI, as a new long-term investor to sit alongside the existing senior management and actively support the future development of the group."
M Group Services is a £1bn turnover business that delivers a range of essential infrastructure services to the regulated sectors of utilities (electricity, gas and water), transport, telecom and data in the UK & Ireland.
Its businesses includes Morrison Utility Services, Morrison Data Services, Dyer & Butler Magdalene, PMP Utilities and M Group Services Plant & Fleet Solutions
Colm O'Sullivan, Partner at PAI Partners, said: "We are delighted to be acquiring M Group Services and look forward to the next phase of the company's development. PAI has closely followed the business since 2013 and we have been very impressed by the transformation achieved by its management team – in particular its expansion beyond utilities.
"We intend to continue the strategy of consolidating the UK infrastructure services market."
(LM/MH)
