Dave Graham and Jon Schofield (DSW) advised energy management company Energy Solutions Group (ESG) on its acquisition of the Evolve group of companies; creating a £55m-turnover business with 400 employees.
The “transformative” deal was agreed with Canadian private equity house Calisto Capital.
Under the agreement Evolve’s three operations – building energy management systems (BEMS) specialist businesses Nobbs & Jones and Ashdown Controls, and energy services firm Evolve Energy – will now trade as separate brands within the ESG group.
International private equity group Bridgepoint Development Capital created ESG after it backed the management buyout of Building Automation Solutions (BAS) in 2010.
ESG is now looking to target £100m in annual revenues within the next three years and is considering further acquisitions to achieve this goal.
Brin Sheridan, chief operating officer at ESG, said: “This is a transformative acquisition which has significantly enhanced the breadth of our capabilities and our presence in key markets.”
He added: “We’re continuing to explore opportunities for further strategic acquisitions which can add depth and scope to our existing services and that complement our values and culture.”