The Monarch Partnership acquires EIC and T-Mac Technologies

MonarchUtilities management company The Monarch Partnership has acquired Energy Intelligence Centre (EIC) and T-Mac Technologies. EIC and T-Mac Technologies made up the corporate division of Utilitywise Plc, the energy and utilities brokerage business that went into liquidation in February 2019. The terms of the deal were not disclosed.

Monarch Partnership is a wholly owned subsidiary of Majestic Securities Limited, which also owns ESS Utility Consultants and Smith Bellerby. All 130 staff from EIC and T-Mac Technologies will join The Monarch Partnership. Following the acquisition, the combined group will have 250 employees and combined revenues of £20 million. In the year to March 2018, Monarch Partnership had profits after tax of £2.45 million. The Majestic Securities group had profit after tax of £2.65 million on a turnover of £6.47 million.

Utilitywise acquired EIC from Broadfern Partners in 2013. After the acquisition Utilitywise rebranded the company as Energy Intelligence Centre. It was previously called Energy Information Centre.

Fusion Corporate Partners had sold EIC to Broadfern Partners in September 2007

Acting for Euromoney Institutional Investor, Fusion Corporate Partners sold Energy Information Centre to Broadfern Partners in September 2007 for £4.7 million. EIC had been bought by Euromoney in October 2006 as part of its £22 million acquisition of metal market news service Metal Bulletin.

EIC was founded in 1975 and now supports over 1,000 industrial and commercial businesses and public sector organisations in managing their energy and water requirements. T-Mac Technologies provides energy management and intelligent buildings systems to help clients reduce and monitor their energy consumption. Both businesses will continue to trade under their existing brand identities and operate out of their headquarters in Redditch, supported by offices in Newcastle and Bury St Edmunds.

Peter Dosanjh, Chairman and CEO at The Monarch Partnership, said: “We are building a premier utility consultancy focused on helping our customers to become fully sustainable energy users. Our depth and breadth of expertise is unrivalled, and we are now working with colleagues and clients across the organisation to integrate the businesses and become the UK’s leading intelligent utilities partner. It is great to have Brin (Brin Sheridan, Managing Director of EIC and T-Mac) on board and welcome EIC and T-Mac to the Group.” 

UK, Wallington, Surrey & Redditch, Worcestershire

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Marlowe acquires waste water solutions business Atana for up to £5M

 

Marlowe+PLC+logoMarlowe plc, the support services group, has acquired Atana Limited for up to £5 million.

Founded in 2001, Atana is a provider of wastewater treatment solutions to commercial organisations across the UK. Atana provides recurring services which ensure compliance with wastewater discharge regulations and reduce waste disposal costs. The business is headquartered in Leicestershire and employs around 20 staff.

AtanaFor the year to 31 December 2017, Atana had revenues of £5.1 million, profit before tax of £0.5 million and net assets of £0.4 million. The total enterprise value will comprise an upfront cash consideration of £3 million and a cash earn-out expected to be in the region of £3 million and capped at £5 million for regulatory purposes. The achievement of the £3 million earn-out is dependent upon the business generating EBITDA of £1.4 million in the 12-month period to 31 December 2020.

Alex Dacre, Chief Executive of Marlowe plc, said:

“The acquisition of Atana accelerates Marlowe’s strategy of broadening the capabilities of our Water division across the entire regulated water management cycle. It enables us to provide additional water services to our customers and strengthens our competitive proposition and ability to cross-sell, both within and across our operating divisions.”

UK, London & UK, Coalville, Leicestershire

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LDC backs Love Energy

LDCPrivate equity investor LDC has invested more than £25m in Love Energy Savings, an energy price comparison specialist, in a secondary buyout of the business.  The deal also marks a partial exit for NVM Private Equity, which first backed the business in September 2015.

Founded in 2007 and headquartered in Bolton, Love Energy specialises in the comparison of business energy prices. It connects small and medium-sized businesses with the UK energy supplier that offers the most appropriate gas and electricity tariff, before helping its customers to switch provider.

Under the leadership of CEO and co-founder Phil Foster, Love Energy has grown rapidly. For the financial year ending 31 December 2017 it recorded revenues of £17.4m (2016: £13.2m) and today supports more than 40,000 customers nationwide.

LDC’s investment will enable Foster and his team to accelerate their organic growth strategy. This will include the expansion of Love Energy Solutions, its corporate services division which supports major energy users across the industrial and commercial sector, further investment in its proprietary technology platforms and continued diversification into the water telecoms and insurance markets.

The transaction was led by Richard Ibbett and Jonathan Bell at LDC in Manchester, with support from Dan Gluckman at LDC in London. Jonathan and Richard will both join the board as non-executive directors.

As part of the deal, Steve Weller will also join the board as non-executive chairman. Weller has more than 10 years’ experience driving growth at technology-led businesses and was CEO of the energy switching service uSwitch until July 2018, where he worked closely with LDC during its support of the business between 2013 and 2015.

Richard Ibbett, investment director at LDC in Manchester, said: “Love Energy Savings is a fantastic business with an entrepreneurial, ambitious management team at the helm. Under Phil’s stewardship, it has continued to invest in its offering and diversify to create scale, yet the quality of service it provides to customers, suppliers and intermediaries has never wavered. In a market that is crying out for transparency this has set the business apart and with a commitment to help save businesses money there is even further opportunity for growth. We’re looking forward to partnering with Phil and his team on the next phase of their journey.”

UK, Manchester & Bolton

Marlowe plc acquires Guardian Water Treatment for up to £2.8M

gwtltd-marlowe-logoSupport services group Marlowe plc, the has acquired Guardian Water Treatment Limited (which includes GPCS Limited) for up to £2.8 million on a cash and debt free basis.

Founded in 2000, Guardian operates nationally from headquarters in Basildon, Essex, and employs around 90 staff. Guardian provides a portfolio of water treatment services to over 400 customers with a significant presence within the facilities management, engineering and manufacturing sectors.

For the year to 31 March 2017, Guardian reported revenues of £6.4 million, adjusted profit before tax of £0.4 million and net assets of £2 million. Marlowe are paying £2.4 million cash upfront and a cash earn-out capped at £0.85 million.

The key members of Guardian’s operational management team will be staying with the business.

Alex Dacre, Chief Executive of Marlowe plc, commented: “The acquisition of Guardian is a further significant step in our strategy of consolidation of the UK water treatment sector. The business benefits from strong recurring revenues, longstanding customer relationships and will further strengthen our capabilities in the attractive London market.”

UK, London & Essex