Lyceum sells UK energy consultancy M&C to Schneider Electric

Lyceum acquired the business in December 2009 for £22m. Since then, M&C has completed two add-on acquisitions: Lyceum provided acquisition finance for the bolt-ons of both Manchester-based utility manager UML and energy price risk management service provider Encore.

The exit is still subject to regulatory approval and is expected to be concluded in Q2 2012.

Following the acquisition, Schneider Electric is planning to combine the company with Summit Energy, a US energy procurement and advisory business.

Company
M&C Energy Group is an energy consultancy firm based in Dunfermline, Scotland, which provides energy procurement and compliance services to more than 4,000 customers. The company operates 21 offices in 15 countries worldwide and employs 500 people.

M&C expects revenues of £35m in the year ending in June 2012.

People
Dan Adler, partner, led the exit on behalf of Lyceum. Mark Dickinson is CEO of M&C and Chris Curtis is executive vice president of Schneider Electric's Building Business.

Advisers
Company – Robert W. Baird, David Silver, Jonathan Harrison (Corporate finance); Travers Smith, Paul Dolman (Legal).
Management – Burness, Mark Ellis (Legal). 

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• Horizon Capital (formerly Lyceum Capital)