Bridgepoint sells The Energy Solutions Group for £72m

The initial sale has been processed for £66m, with the potential for a further £6m payment subject to the achievement of agreed targets.

Under Bridgepoint's stewardship, the company has developed its energy management offering and completed two bolt-on acquisitions, buying Marsh Systems in 2011 and Evolve Energy in 2012.

SSE was introduced to the company by a team at EY led by partner Tim Morris.

Previous funding
Bridgepoint backed the management buyout of the company (then Building Automation Solutions) in December 2010. Yorkshire Bank Corporate and Structured Finance provided debt to support the deal, according to unquote" data.

Company
Founded in 2006 following a buyout from Siemens and based in Cheshire, The Energy Solutions Group provides remote energy monitoring, metering, energy analytics and software solutions, as well as building energy management systems (BEMS). BEMS are computer-based systems that control and monitor a building's mechanical and electrical equipment, maintaining a comfortable environment but reducing energy usage and costs.

The business had an enterprise value of £36m at the time of the Bridgepoint buyout. Revenues have now grown to more than £50m.

People
Robin Lawson is a director at Bridgepoint.

Advisers
Company – Dow Schofield Watts (Corporate finance); EY, Tim Morris (Corporate finance); Travers Smith (Legal); Laytons (Legal).
Management – Gateley (Legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Support services
• Exits
• United Kingdom
• Bridgepoint