Energos acquires BioGen Power

January 19, 2012 — Fusion DigiNet

UK clean energy recovery from waste business Energos Holdings Limited, part of the ENER-G group, has acquired waste to energy business BioGen Power Limited through a share swap arrangement.

Energos, which is gasification technology partner to BioGen Power and already had a 28% shareholding in the business, has released shares to the former BioGen Power owners as part of the reciprocal agreement.

This brings together a joint portfolio of six fully consented UK sites, with a total generating capacity of 60MW and waste treatment capacity of 650,000 tonnes, plus additional sites in the development pipeline.

In addition, the seven previously developed Energos gasification from waste facilities across Northern Europe, have a combined operating experience of almost 500,000 hours over a 15-year period.

Nick Dawber, Managing Director of Energos, said: ‘The combined portfolio of development-ready sites and pipeline of opportunities – now under the control of Energos – provides an exciting opportunity to deliver a UK network of small-scale advanced thermal conversion plants. This offers commercial waste operators a proven, cost effective, environmentally friendly alternative to mass-burn incineration and landfill for their non-recyclable, non-hazardous waste streams.’

He added: ‘This acquisition brings further specialist planning and waste contracting expertise into the organisation and adds to the strength of Energos. We look forward to starting to roll out the UK development portfolio in 2012.  Our community-sized model of operation means that the renewable energy facilities can sit alongside businesses and supply them with heat. Financial viability is increased by our ability to utilise the full combined heat and power potential of waste and flexibility to process a mixed residual waste feed.’

Energos expects to start construction on two of its six approved sites in 2012, with the remaining sites in the following two years. The consented sites are  at: Knowsley, Merseyside; Irvine, Scotland; Newport, South Wales;  Barry, South Wales; Doncaster, Yorkshire; and Bradford, Yorkshire. BioGen Power has closed its Blackpool office, with staff relocating to Energos’ headquarters in Warrington, Cheshire.

UK, Warrington, Cheshire

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UK private equity investment in the £10M-£10OM market grows by 44%

January 18, 2012 — Fusion DigiNet

Data from the Lyceum Capital and Cass Business School UK Growth Buyout Dashboard shows that the UK has reinforced its position as the preeminent market for private equity investment in Europe, with activity in its lower mid-market having continued its strong recovery in 2011 to pre-recession levels of almost 100 deals.

Highlighting the segment’s robustness despite macro-economic challenges, the UK Growth Buyout Dashboard, revealed 44 per cent growth in the total number of transactions last year to 91, compared to 63 in 2010 and 34 deals in 2009.

The quarterly data, which analyses UK-headquartered private equity control deals in the £10 to £100 million enterprise value space, also shows that total deal value has more than trebled over the past three years, with aggregate values in excess of £3.4 billion last year compared to over £2.2 billion in 2010 and just above £1.0 billion in 2009.

Technology, media and telecommunications (TMT) was the stand-out sector – a trend which is likely to continue, driven by growth in innovative IT solutions such as cloud computing and mobile business applications. 26 TMT deals completed during 2011, contributing to 29 per cent of completed transactions, compared to 11 a year earlier and just four in 2009.

Click here to read the full UK Growth Buyout Dashboard.

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A Fusion Deal : Energy specialist Utilyx sold to MITIE Group

January 10, 2012 — Fusion DigiNet

Fusion Corporate Partners are pleased to announce our first deal of 2012. The sale of leading energy and carbon management specialist Utilyx Holdings Limited to MITIE Group PLC, the strategic outsourcing and energy services company.

Utilyx provides a number of services relating to its clients’ energy demands including strategic planning, procurement and risk management, all of which are designed to manage the business impact of energy consumption and rising energy costs.

The acquisition of Utilyx will complement and enhance MITIE’s existing CarbonCare energy services capabilities. The energy services market is significant for MITIE, with 35% of the Group’s revenues derived in this area. MITIE is ranked as the second largest energy services company in the UK, providing a full range of integrated services that help its clients manage their energy use and carbon footprint. MITIE’s energy services proposition supports all the key energy issues facing businesses and public sector organisations across the UK. These include business continuity through security of energy supply, value through cost reduction, reduction of carbon emissions and renewable energy.

As a leading consultant on corporate carbon and energy strategy, Utilyx counts a range of major UK energy users among its clients, from the industrial, commercial and public sectors. Utilyx has excellent high-level working relationships with numerous blue-chip companies including Scottish Water, Iceland and McDonald’s. It has excellent strategic relationships across the fast-growing energy services market and also provides specialist services to generators and developers of renewable energy projects.

Established in 2000, Utilyx purchases a significant proportion of the UK corporate energy market on behalf of its clients. The business has a deserved reputation for excellence and innovation, having introduced a number of new products and concepts to the market, including flexible risk managed electricity purchasing, open-book agreements and end-user Power Purchase Agreements.

Utilyx has annualised revenues of over £7m and is well placed to support MITIE’s progress in the growing energy services market in the UK. The total consideration for the acquisition will be up to £16.2m. Initial consideration of £15m was paid in cash on completion and the balance (capped at a maximum additional payment of £1.2m) will be paid in cash, dependent on future business performance. The proforma EBITDA of Utilyx is £1.7m and it is expected the acquisition will be earnings neutral in the first year of ownership.

Ruby McGregor-Smith CBE, Chief Executive, MITIE Group PLC, commenting on the transaction, said: “We are delighted to have acquired Utilyx. There is no doubt that the need for all organisations to use fewer natural resources is changing our marketplace. Energy management is integral to what we do and this acquisition forms part of our considerable investment to further develop MITIE’s energy services capability.

Chris Bowden, Chief Executive Officer of Utilyx added: “We are excited by the opportunity this presents for us and our clients. The energy sector is fast-moving and by bringing together our expertise and experience, we will be in an even stronger position to help our clients meet the challenges and opportunities that the new low-carbon economy .

Paul Kelly, Director at Fusion, said “We were delighted to work with Chris and his team at Utilyx. They have built a great business and the fit with MITIE is excellent. The energy services sector has become an important part of the Fusion business. This our sixth energy services deal. Besides private equity interest, we are seeing an increase in acquisition interest from large energy management, FM, environmental services and building services companies. We expect to continue to be active in the sector for some time to come.”

Previous Fusion energy services deals:

UK, London & Bristol

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Deloitte acquires Übermind

January 9, 2012 — Fusion DigiNet

Deloitte has acquired Übermind, an innovative mobile agency.  Terms of the deal were not disclosed.

“Mobile technologies are rapidly reshaping the nature of business. This represents a significant opportunity for companies to develop new interaction models with customers, employees and stakeholders,” says Janet Foutty, national managing director, technology, Deloitte Consulting LLP.

Based in Seattle, Wash., Übermind’s mobile strategy, engineering, design and creative talent transform the way companies use mobile solutions, using disruptive technologies to create inspiring and intuitive mobile applications designed to both strengthen brand and transform the business. Übermind complements Deloitte with extraordinary talent, tools and assets that are customized to the mobile development lifecycle, including proprietary frameworks and methodologies.

“By leveraging the strength of Deloitte’s global access, industry insight and deep talent, this acquisition allows us to provide even greater insight into the business and technology issues facing organizations today,” says Shehryar Khan, chief executive officer of Übermind, Inc. “Übermind’s complementary industry footprint enhances our collective ability to deliver tailored solutions to meet clients’ specific needs.”  Khan, along with Übermind founder Donald Brady, joins Deloitte Consulting LLP as principals.

For more information here

USA, Seattle, WA

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Siemens acquires Pace Global Energy Services

January 4, 2012 — Fusion DigiNet

Siemens Industry has acquired Pace Global Energy Services in Fairfax, Va. Terms of the deal were not disclosed.

The acquisition of Pace Global supports Siemens strategic commitment to enhance enterprise value for its global clients by truly optimising energy and resource efficiency. Pace Global’s deep knowledge of energy markets, its experience with C-Suite decision support and its commercial solutions—including energy and carbon management (ECM) capabilities—are a natural fit with Siemens sustainability and energy management solutions. This creates a valuable, useful and seamless solution set that supports both the executive decision process and operating efficiencies.

“Sustainability and energy efficiency are top priorities for enterprises and municipalities,” said Andreas Schierenbeck, president of the U.S. Building Technologies Division of Siemens. “With a current portfolio ranging from energy services to performance contracting, we have expanded our capabilities with the addition of energy consulting and procurement services. By combining both companies’ market-leading solutions, Siemens has formed an end-to-end energy consulting and project delivery capability that is unique in the market, and is a perfect complement to the realities of running today’s business operations.”

Pace Global has a 36-year history providing energy services to a global portfolio of clients. The company manages more than $5 billion in energy spend for 200 clients around the world, oversees a risk portfolio valued at approximately $10 billion, and supports the development, acquisition, and financing of over $100 billion of energy assets worldwide. Pace global combines in-depth industry knowledge with commercial,technical, financial, and regulatory expertise to help organizations maximize enterprise value and manage risk in today’s complex energy and environmental markets.

Pace Global will integrate within the Siemens Building Technologies division, but will continue to operate as a separate operating unit. Timothy F. Sutherland will continue to lead the operating unit after the acquisition, and Pace Global’s executive staff and employees will remain intact. With offices in Fairfax Virginia, Houston Texas, Columbia South Carolina, London and Moscow, Pace Global provides international reach and integrated access through the company’s experience, knowledge base, tools and consulting services for clients in more than 60 countries around the world.

“The purchase of Pace Global allows us to extend our reach into the energy market and enhance our current building automation portfolio of energy management solutions and services to both the private and public sectors,” said Dave Hopping, Vice President of the U.S. Siemens Building Automation business unit. “Together, Siemens and Pace Global have established a recognized and client-valued position in the marketplace.”

Pace Global’s unique business model includes the combination of strategic enterprise consulting with ECM. This supports the Siemens objective of helping solve complex energy-related problems through resource planning, sustainability and energy master planning, risk management and regulatory guidance. This solution set also includes infrastructure development support and provides utility spend and billing, energy purchasing advisory services, carbon management and tracking, and energy asset management.

USA, Buffalo Grove, IL & Fairfax, VA

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Redpoint to merge with Baringa Partner’s Energy Advisory practice

December 13, 2011 — Fusion DigiNet

Redpoint Energy and Baringa Partners are planning to merge to create an organisation in the European energy space.  Baringa is a management consultancy that specialises in the energy, financial services and utilities markets in the UK and continental Europe. Redpoint is a specialist energy consultancy, advising clients on investments, strategy and regulation across Europe’s power, gas and carbon markets. The merger, likely to happen in Spring 2012.

Explaining the decision to merge, Phil Grant, Director at Redpoint said: “Redpoint Energy and Baringa Partners share a common set of internal and external values, have worked closely together since Redpoint’s foundation in 2004, and already have an element of cross-ownership.”

Mohamed Mansour, Managing Partner at Baringa, said: “The energy landscape in Europe is changing dramatically, with policy responses to environmental and security of supply concerns, evolving supply and demand side technologies, and dramatically changing global market dynamics. Our clear shared vision is to be the advisor of choice in helping our clients shape, define and deliver change in European Energy markets.”

UK, London

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MITIE acquires access and disability consultancy Direct Enquiries

December 8, 2011 — Fusion DigiNet

MITIE, the strategic outsourcing and energy services company, has acquired a majority stake in access and disability consultancy company Direct Enquiries Holdings Ltd.

Direct Enquiries provides a range of services to major companies and public sector organisations, allowing them to minimise their risk and maximise the benefits of embracing equality.   Direct Enquiries provides Part M and BS 8300 audits around access for disabled people, supported by compliance reviews covering fire risk and health and safety.

The company also operates free to use online directories, Directenquiries.com, Inclusivebritain.com and Inclusivelondon.com – the Mayor of London’s official information portal for the 2012 games and its legacy. These sites provide access information for people with specific access requirements such as disabled and older people and parents with children.

The acquisition provides a strong platform for growth in the compliance, risk assessment, disability and access industries, as well as providing significant cross-selling opportunities within MITIE’s existing service offering.

Direct Enquiries has an annual turnover of approximately £1.4m from a wide range of public and blue chip private sector clients, including John Lewis, Birmingham Children’s Hospital, Intercontinental Hotels Group and the Metropolitan Police. The initial consideration is £0.3m, paid in cash on completion, with further consideration payable in cash up to a maximum of £8.3m depending on financial performance over a five year period.

MITIE’s investment has been financed through its Entrepreneurs Fund and provides the management team with an incentive linked to future performance based on the MITIE model.  More information on MITIE’s Entrepreneurs Fund can be found at http://www.mitie.com/entrepreneurs.

Ruby McGregor-Smith, Chief Executive, MITIE Group PLC, commenting on the acquisition, said: “We are all delighted to have acquired a majority shareholding in Direct Enquiries through our Entrepreneurs Fund. This acquisition demonstrates our continued commitment to and interest in disadvantaged groups, whilst recognising the increasing importance of building compliance legislation and risk management to our clients.”

UK, Bristol & Bracknell, Berkshire

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Trinity Consultants acquired by Gryphon

December 7, 2011 — Fusion DigiNet

Trinity Consultants, an international environmental consulting firm that specialises in industrial air quality issues, has recapitalised with financial partner Gryphon Investors, a San Francisco-based middle market private equity firm. Trinity management and employees maintained significant ownership in the transaction. Gryphon bought a controlling interest in the firm from Sentinel Capital Partners, majority owner since 2007. John E. (Jay) Hofmann, Trinity’s President/CEO since 2001, will remain at the helm.

According to Hofmann, “Trinity’s management team is confident that Gryphon will make an excellent partner going forward. From the beginning, we were impressed by how well they understood our business and supported our growth objectives.”

Trinity Consultants was advised by investment banking firm MHT Partners. Gryphon was advised by investment banking firm Lincoln International.

USA, Dallas, TX

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Siemens to acquire eMeter

December 6, 2011 — Fusion DigiNet

Siemens Industry is to acquire all of the stock of eMeter Corporation, headquartered inSan Mateo, California. The parties expect to close the deal in December 2011, subject to necessary approvals and customary closing conditions. The parties will not disclose the terms of the agreement.

eMeter will be part of the Smart Grid Division of the Siemens Infrastructure & Cities Sector, which is housed within Siemens Industry, Inc. in the United States.  eMeter will become a global business segment and center of competence for Meter Data Management, and  will continue to operate from its San Mateo headquarters as part of the Smart Grid Division.  eMeter employees will be integrated into the Siemens business structure. With the completion of this purchase, Siemens is making a strong commitment to strengthening its position in the Smart Grid market.

With its EnergyIP platform, eMeter is a leader in platform and MDM application software for this key market and is expected to enhance Siemens’ position. eMeter’s expertise will complement Siemens’ technology portfolio and integrated Smart Grid solutions offering.

“The acquisition of eMeter will allow Siemens to expand its reach globally in the Energy Information and Meter Data Management space,” said Jan Mrosik, CEO of the Smart Grid Division of the Siemens Infrastructure & Cities Sector. “Ever-increasing demand for solutions to improve the effectiveness of the Smart Grid for cities and utilities makes this acquisition even more important. eMeter is renowned for its superior software and services capabilities that enable electric, gas and water utilities to realize the full benefits of the Smart Grid. A combined portfolio of Siemens’ products and solutions and eMeter’s software represents a unique and complementary offering to our customers.”

“Siemens’ global reach and innovative products and services coupled with eMeter’s renowned EnergyIP platform, supports an aggressive growth strategy and further penetration into the Smart Grid market,” said Gary Bloom, CEO and president of eMeter. “I am confident Siemens will provide eMeter with the level of investment required in people, technology and operations to significantly strengthen our position in the market.”

J.P. Morgan served as financial advisor to eMeter in connection with this transaction.

USA, Atlanta, GA

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Moody’s Corporation acquires majority stake in Copal Partners

November 19, 2011 — Fusion DigiNet

Moody’s Corporation has acquired a majority stake in the companies of Copal Partners. Copal’s companies are among the world’s leading providers of outsourced research and analytical services to institutional customers. The terms of the transaction were not disclosed.

Copal’s analytical resources support front-line professionals at financial institutions and corporate enterprises worldwide. With expertise in a wide range of disciplines, including financial modeling, industry and company research, capital structure analysis and market surveys, Copal deploys a flexible staffing model to meet the specific requirements of its customers.

“Copal is highly regarded in the global financial services industry as a leader in high quality research and analytical services for bankers, financial analysts and institutional investors,” said Mark Almeida, President of Moody’s Analytics. “This acquisition extends Moody’s Analytics’ capabilities, enabling us to better help financial institutions manage risk. In addition, Copal’s expertise and resources will allow us to accelerate innovation across Moody’s Analytics.”

The acquisitions do not alter Moody’s 2011 earnings per share (EPS) guidance, and are expected to be accretive to Moody’s EPS in 2012. Moody’s funded the purchases from cash on hand.

Moody’s was advised on the transaction by Citi and Slaughter and May. Copal Partners was advised by Centerview Partners and Macquarie Capital. Proskauer Rose served as legal advisors for Copal.

USA, New York, NY

 

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