M&A: SLR Acquires Renewable Energy Consultancy ITPEnergised
February 6, 2024 by Joe Panettieri
Global sustainability consultancy SLR Consulting, backed by private equity firm Ares Management, has acquired ITPEnergised -- a consulting firm focused on the renewable energy sector. Financial terms of the deal were not disclosed.
In addition to consulting services, ITPEnergised has developed a digital platform called Net Zero Accelerator. The platform includes tools to "evaluate investments in a range of low carbon technologies to accelerate the Net Zero transition," the company says.
SLR, founded in 1994, is based in Aylesbury, Buckinghamshire, South East England. The sustainability and environmental consultancy specializes in the built environment, finance, industry, infrastructure, mining & minerals, and power & renewables sectors. SLR has more than 3,000 employees across Europe, the Americas, Asia-Pacific and Africa.
ITPEnergised, founded in 2013, is based in Edinburgh, United Kingdom. The company has roughly 100 employees. ITPEnergised has technical advisory expertise in the renewable energy, corporate, industrial, property and urban regeneration sectors. The company's services span feasibility, development, construction, operation, re-powering and decommissioning. Moreover, ITPEnergised offers power systems design and optimization, cable engineering and grid connection services, the company said.
In a prepared statement about the acquisition, SLR CEO Bradley Andrews said: “I am thrilled to welcome the ITPEnergised team to SLR. Their passion in supporting the transition to a decarbonised world resonates strongly with our team. SLR and ITPEnergised have worked closely together on renewables projects and together we will become one of the largest consultancies serving the global renewables market. This further demonstrates the commitment we are making to Making Sustainability Happen for our clients and broader society.”
Added Jonny Clark, managing director of ITPEnergised: “We are excited to be joining SLR and collaborating with like-minded colleagues around the world. Our ambition has been to deliver the transition to Net Zero and decarbonised economies, and through the combination of ITPEnergised and SLR’s talented technical and advisory teams, and further evolving our digital expertise, we have the right partnership to support our clients, to accelerate meeting that ambition.”
Concluded Alan Edwards, SLR’s European managing director: “The skills and experience the ITPEnergised team bring in delivering technical solutions to achieve Net Zero will build upon SLR’s existing capabilities and bring new skills in power networks. We have long admired ITPEnergised and our teams have enjoyed working together on some of the most significant UK renewables projects. I am really pleased to welcome ITPEnergised to the SLR family.”
SLR CEO Transition, Private Equity Ownership, Acquisition Experience
The acquisition surfaced roughly four months after SLR hired Bradley Andrews to succeed co-founder Neil Penhall as CEO in September 2023. Penhall shifted to vice chair of the SLR board of directors.
Private equity firm Ares Management acquired SLR Consulting from Charterhouse Capital Partners in 2022. Financial terms of the deal were not disclosed. Charterhouse had owned a majority stake in SLR Consulting since 2018.