A Fusion DEAL: TEAM (Energy Auditing Agency Limited) sold to EDW Technology

TEAM EDW-TechnologyTEAM (Energy Auditing Agency Limited) has been sold to EDW Technology Holdings Limited. Fusion Corporate Partners acted as corporate advisor for TEAM. The Fusion team was led by Paul Kelly, Director at Fusion. The terms of the deals were not disclosed.

TEAM specialises in energy management – monitoring and targeting software, EDI software solutions, tenant billing software, outsourced energy management services and energy consultancy.

Founded in 1985 by Paul Martin, TEAM has over 500 Commerce, Industry and Government customers in the UK and worldwide.

paul-kelly_f_1_120_1Speaking about the sale, Fusion’s Paul Kelly said, “It was a pleasure to represent Paul Martin and Peter Howell; and to work with their management team. They are a highly professional group with great industry expertise. Software is at the heart of the business and I am sure that with EDW’s support, TEAM’s innovative and highly scalable technology platform will unlock new opportunities in the UK and internationally. I wish them every success”.

EDW Technology has an extensive history of developing, implementing and supporting best-in-class retail electricity supply software solutions. With proven systems to support B2B electricity suppliers in the GB market EDW Technology has implemented solutions for energy retail start-ups as well as system replacements for more mature suppliers.

Simon-Miles-CEOSimon Miles, EDW Technology CEO said “We are incredibly excited about working with TEAM to grow our combined market presence and strengthen our product and service offering within the industrial and commercial utility supply and large energy consumer sector”.

TEAM founder Paul Martin, who will take up the position of non-executive director on the TEAM board said “We have built a leadership position in the UK market by consistently innovating, using our deep industry expertise to support our customers and evolve with the market. Being located in Milton Keynes, sharing the same software technologies and energy expertise makes EDW Technology a natural partner to continue the journey.”

Tim Holman, Head of Operations, Jon Lindop, Head of Development, and all other Managers will continue in their current roles.

UK, Milton Keynes

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A Fusion Deal: Carbon Clear sold to EcoAct

carbon clear ecoactCarbon Clear, a major player in the UK environmental sustainability marketplace, has been sold to EcoAct Group, the climate expert and climate finance project developer headquartered in Paris. Fusion Corporate Partners acted as corporate advisor for Carbon Clear. The Fusion team was led by Paul Kelly, Director at Fusion. The terms of the deals were not disclosed.

The joining of the two companies will help businesses better manage their approach to climate change and sustainability by creating an international entity with expanded operations in Europe, North America and Africa.

EcoAct works with international clients to meet the demands of the Paris Climate Change Agreement, offering solutions to companies’ sustainability challenges. With the acquisition of Carbon Clear, new service offerings will be available across the global sustainability market including: assessing climate change risks and opportunities; strategic planning and target setting; managing and reducing energy and carbon emissions and; working with climate finance projects.

Combining forces is a natural fit for both EcoAct and Carbon Clear due to their shared corporate values. Both companies were formed over a decade ago to address dangerous climate change and both teams remain dedicated to this goal for the Group going forward.

Mark Chadwick, Chief Executive of Carbon Clear commented:  “Our new Group has the technical expertise, commercial knowledge and client-friendly approach that we believe is unparalleled in the market. The combined strengths of EcoAct and Carbon Clear mean we are a leading sustainability consultancy that has the resources and capabilities to do more for our clients through our new service offerings and broader geographic reach. Our committed and talented staff will use their complementary skills to continue to do the very best work from our offices around the globe.”

paul-kelly_f_1_120_1Paul Kelly, Director at Fusion Corporate Partners said: “It has been a pleasure working with Mark and the other shareholders at Carbon Clear. They are a great team and the fit with EcoAct is excellent. The combining of the two businesses creates a leading sustainability consultancy with a broader geographic reach. I wish them every success”

The Group will now be managed at an Executive Committee Level by: Thierry Fornas and Gérald Maradan, the founders of EcoAct; Mark Chadwick, the founder of Carbon Clear, and Sylvianne Villaudière, founder of CSR consultancy Alliantis, a company that joined the EcoAct Group in February 2017.

France, Paris & UK, London

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Inspired Energy acquires Horizon Energy Group in Ireland

Inspired Energy is to acquire Horizon Energy Group Limited, an energy procurement consultancy with 34 employees, based in Cork, Ireland with customers including large Corporates, Public Sector bodies and SMEs. The acquisition will be part funded by a £9 million share placing.

Inspired will pay an initial Consideration of €9.0 million to acquire 90% of Horizon. Inspired has the option to acquire the outstanding balance of 10% for a further €1.0 million. Further deferred payments of up to €5.0 million are subject to achievement of financial performance targets for the periods ending 31 December 2017 and 31 December 2018.

Horizon’s management team, including Colin Barry, founder and MD of Horizon, will remain with the Group.

Commenting on the proposed acquisition, Janet Thornton, Chief Executive of Inspired, said: “Inspired continues to look to deliver on its growth strategy and Horizon provides an opportunity to drive growth from Inspired’s platform as it is an established business in a relatively untapped market. It will bring high earnings visibility, supported by a strong procurement corporate order book, and Horizon’s sales team will benefit from the cross-selling opportunities with access to Inspired’s broader capabilities, ultimately benefitting clients.”

“Ireland’s energy procurement sector is relatively underdeveloped compared to the UK, providing a significant opportunity for Inspired to deploy its expertise in increasing its presence in this market, leveraging the Enlarged Group’s experience of growth in the UK market.”

UK, Kirham, Lancashire & Ireland, Cork and Dublin

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Inspired Energy acquires Flexible Energy Management and Churchcom 

inspired-logo3
Inspired Energy has acquired the trade and assets of Flexible Energy Management Limited and 100% of the shares in Churchcom Limited.

Flexible Energy Management Limited (FEM)

Founded in 2012 , FEM is a public sector energy procurement specialist, servicing a customer base comprising of NHS foundation trusts/hospitals and academic and sporting institutions, through two NHS sponsored OJEU frameworks*. The business is based in Manchester, the two Directors of FEM have over 20 years’ experience in the NHS. 

Inspired are paying £2.2 million in cash for FEM and in addition will issue of 2,993,653 new ordinary shares to the shareholders, who will remain with the business. For the financial year ended 31 March 2016, FEM delivered revenues of £0.65 million, EBITDA of £0.47 million and generated operating cash of £0.47 million.

Churchcom Limited

Churchcom is an energy procurement consultant based in Peterlee, County Durham. Churchcom operates under two trading divisions, Church Energy Purchasing Group, which specialises in energy procurement for churches and Energy Partners, offering energy procurement services for commercial customers, complementing Inspired’s core Corporate Division.

Inspired are paying £1.4 million in cash for Churchcom. For the financial year ended 31 January 2017, Churchcom delivered revenues of £0.64 million, EBITDA of £0.35 million and generated operating cash of £0.47 million. Net assets as at 31 December 2016 stood at £0.24 million. The founder directors of Churchcom have sold the business in order to retire and will leave after a handover period.

Commenting on the acquisitions, Janet Thornton, CEO of Inspired Energy said: “We are delighted to conclude the acquisition of Flexible Energy Management and Churchcom, which are highly complementary additions to the Group’s core corporate division. These acquisitions broaden our customer base, further enhance our sector specialisms and increase our geographical spread. “

The acquisitions are being financed from the Group’s existing financial resources, with funding provided by an extension to the Group’s existing £3.5 million acquisition facility with Santander to £5.1 million.

* OJEU frameworks are framework agreements which govern the procurement process for Public Sector Bodies with the intention of improving the effectiveness of the tender process. The frameworks are subject to the rules of Regulation 33 of the Public Contracts Regulation 2015 which transposes Article 33 of Directive 2014/24/EU.

UK, Kirham, Lancashire & Manchester & Peterlee, County Durham

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Energy Services Group acquires Utiligroup

ESG logoEnergy Services Group (ESG), the retail energy industry’s provider of SaaS solutions including transaction management (EDI), billing and CIS, wholesale energy services, and sales and pricing, supported by private equity firm Accel-KKR, has acquired UK-based Utiligroup from NorthEdge Capital. Founded in 1997, Utiligroup is a provider of Software-as-a-Service (SaaS) solutions to the utilities and energy industries. The terms of the deal were not disclosed.

NorthEdge initially backed Utiligroup in a £16.1 million management buyout from owners Bglobal (now part of Energy Assets Group) in June 2014. Story Link

Global had acquired Utiligroup in 2010 for a reported maximum consideration of up to £12.8 million. Story Link

UtiligroupThe sale to ESG is the fifth exit from NorthEdge’s maiden £225m Fund I and has generated a gross 5.7x return on investment. NorthEdge is reinvesting alongside
Accel-KKR as part of the new deal.

“ESG continues to build on our strategy of providing best-in-class technology solutions and services to energy resellers and empowering energy choice around the world,” said CEO Phil Galati. “We are incredibly excited about the opportunity to grow our market presence and strengthen our product offerings through the partnership with Utiligroup.”

According to Matthew Hirst, CEO at Utiligroup, “We have built a leadership position in the UK market by consistently innovating, using our deep industry expertise to help our customers grow and evolve with the market.” “We look forward to this next chapter, bringing the best of ESG and Utiligroup to our customers across the globe.”

The UK entity will continue operations as Utiligroup, and Matthew Hirst will remain as CEO of the UK business, reporting to Phil Galati, ESG CEO.  Matthew will also join the board of directors of ESG.

The acquisition of Utiligroup by ESG follows the acquisition of Latitude Technologies in November 2016.

USA, Norwell, MA and UK, Chorley, UK

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ZPG Plc acquires Expert Agent

zpgZPG Plc has acquired Expert Agent. The terms of the deal were not disclosed. 

Established in 2003, Expert Agent provides cloud-based software solutions and systems for the day-to-day management of inventory, marketing and communications for estate agents and lettings agents across the UK. 

expertagentUntil February 2017 ZPG Plc was called Zoopla Property Group Plc. The company is already the owner of Zoopla, uSwitch, PrimeLocation, Hometrack and Property Software Group.

Expert Agent will continue to operate as a standalone platform and brand and the team will become part of the Property Services division of ZPG.

Mark Goddard, Managing Director, ZPG Property Services said, “This acquisition helps us continue to enhance the services we offer to UK property professionals, including software and CRM, digital marketing and data insight tools. We will integrate our MoveIT and MyPropertyFile products into the Expert Agent platform in time to provide its members with a range of new revenue opportunities. Our ambition is to be the most effective partner to the UK property industry and this deal is another step towards that goal. We look forward to welcoming Mike and his team to the ZPG family.”

UK, London

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CLEAResult acquires Green Team Energy Services

clearesult_logoCLEAResult, a provider of energy efficiency services in North America, has acquired Green Team Energy Services, a provider of digital, cloud-based energy efficiency and demand side management (DSM) software that leverages the Salesforce.com CRM platform. The terms of the deal were not disclosed.

dsmtracker_4302013Green Team’s cloud based software, DSMTracker, will be incorporated into CLEAResult’s residential, commercial and industrial, and marketing offerings. CLEAResult will also offer DSMTracker as a standalone software platform. Several utility companies, including Duke Energy and Alameda Municipal Power, have adopted DSMTracker to automate key aspects of their DSM programs, including program planning and design, marketing, tracking, execution, electronic rebate processing, document management and reporting.

 

Green Team was founded in 2013 and is headquartered in Atlanta. All of Green Team’s employees will join CLEAResult.

“As our clients’ industry evolves, leading-edge technology applications for energy efficiency have taken on tremendous importance in terms of creating differentiated experiences and customer growth,” said Aziz Virani, CLEAResult CEO. “This technology investment will allow us to further increase the value we are able to create for our clients as the leading provider of energy efficiency programs, and reflects our continued commitment to bring innovative technologies and capabilities that will help our utility clients succeed.”

 

USA, Austin, TX & Atlanta, GA