ECI to exit Clarke Energy

PRIVATE equity firm ECI is progressing plans to sell its 30% stake in distributed power generation specialist Clarke Energy.

The Knowsley company, which has 1,000 employees based in 17 countries, installs and maintains gas and diesel-fuelled power plants. The company made record revenues of £233m in the year to October 2015.

ECI  invested more than £100m in the business four years ago, which it says is now valued at around £350m.

Sources close to the company told TheBusinessDesk that a sale to another private equity house is the most likely outcome, although trade approaches for the whole business are also being considered.

A source said: “The business has traded well since ECI invested, moving into new territory.  It is just at the start of this process, with preliminary conversations, but  a refinance with a private equity house looks likely at the moment.”

KPMG has been appointed to review strategic options for the business.