Dow Schofield Watts advised Warrington-based procurement outsourcing service company Inprova Group on its acquisition of an energy consultancy in West Sussex.
Energy & Carbon Management (E&CM), which operates out of Horsham, provides energy broker and consultancy services such as commercial gas and electricity procurement, energy risk management and consumption measurement and analysis. The transaction was funded through a new debt facility from Frontier Development Capital. Following the deal, E&CM’s 20 staff will be employed by Inprova Group.
Inprova provides procurement outsourcing, consultancy and technology services across the private and public sector, procuring £800m of goods and services per year for clients in the logistics, private equity, health, local government and housing markets.
Paul Kennedy, Inprova Group chief executive, said: “The addition of E&CM builds upon the success of the acquisitions made in this space over the last couple of years. We have now made five acquisitions in the past couple of years or so and we continue to look at opportunities that will add scale, capacity and capability into our business over the coming months and years.”
Mark Watts, Keith Benson and Peter Barkley of Dow Schofield Watts’ corporate finance team advised Inprova on fundraising to support the deal, while Nicola Merritt from the transaction services team provided financial due diligence. It is the fourth Inprova acquisition on which they have advised – the teams also provided corporate finance advice and due diligence on its acquisitions of energyTEAM, ENER-G Procurement and UES Energy in 2016.