Cinven's EnServe sells Inenco to Vitruvian and ICG

The proceeds from the deal will be used to reduce EnServe's bank debt. Following the deal, Inenco will focus on expanding in the UK and overseas through acquisitions.

Inenco's parent company EnServe (formerly Spice) was acquired by Cinven in late 2012 for £360m. EnServe provides infrastructure support services to companies operating in the utility and energy sectors.

Company
UK-based Inenco specialises in strategic energy management procurement and risk management services. The client base comprises 800 corporates, 150 public sector entities and 8,000 SME businesses. The company operates through three brands: Inenco, Inenco Direct and NIFES.

Inenco is headquartered in Fylde Coast in Lancashire. NIFES has offices in Glasgow, Altrincham and London. Inenco Direct operates in Liverpool. The company has five offices in total and employs 409 people.

People
David Cruddace is CEO of EnServe, while Micheal Abbot is CEO of Inenco.

Advisers
Vendor – Robert W Baird, Jonathan Harrison (Financial due diligence).

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• Topics
• Buyouts
• UK / Ireland
• Support services
• Cinven
• Vitruvian Partners
• Intermediate Capital Group
• United Kingdom