Sustainable Energy First, a utilities specialist backed by Beech Tree Private Equity, has acquired sustainability consultancy Inenco. The combined business will position itself as a sustainability service provider. Financial terms of the deal were not disclosed.
This is M&A deal number 259 that Sustainable Tech Partner has covered so far in 2024. Related: See all M&A deals involving sustainability, climate tech and green IT services listed here.
Sustainable Energy Consultancy M&A: Business Backgrounds
Sustainable Energy First, founded in 1997, is based in Lytham St. Annes, Lancashire, United Kingdom. The company was known as BiU until 2022. The firm employs roughly 160 sustainability experts. The business mission is to solve energy management problems in very large, complex commercial estates.
Inenco, founded in 1968, is based in Lytham, Lancashire, United Kingdom. The acquired business helps UK companies to reduce carbon, optimize energy consumption, ensure compliance, implement effective energy procurement strategies and control costs, the buyer said.
In a prepared statement, Sustainable Energy First CEO Michael Abbott (pictured above) said: “We are thrilled to have completed the acquisition of Inenco, bringing together two like-minded and complementary businesses. This acquisition complements our mission to inspire and empower our people to create a positive difference. Together, we will provide unparalleled energy solutions that benefit our clients and contribute to a more sustainable future.”
Private Equity: Working Behind the Scenes
Beech Tree Private Equity invested in Sustainable Energy First in April 2024. The private equity firm typically invests in companies valued between £10 million and £80 million (US$13.19 million to US$105.5 million.
