ESP sold to US energy firm

AN innovative Yorkshire company, the Energy Services Partnership (ESP), has been acquired by US firm Ameresco.

ESP, based in Castleford, is a leading provider of energy management solutions including, energy supply, invoice management and demand response services for commercial, industrial, manufacturing and utility customers in the UK. Ameresco is a leading energy efficiency and renewable energy company.

President and CEO of Ameresco, George  Sakellaris, said: “We look forward to working with the talented ESP team to further develop and cultivate growth opportunities serving not only Ameresco’s multinational customers’ needs in the UK, but also ESP’s clients with offices and facilities in North America.”

Ernst & Young advised on the sale of ESP, which was founded in 2002 by Derek Dixon and Kath Chapman.

Chief executive of ESP, Mr Dixon, said: “The entire ESP team is very pleased with the opportunity to enhance our delivery of sustainable services to our customers as part of Ameresco and to provide our expertise and services to Ameresco’s Enterprise Energy Management customers in the UK.”

Terms of the transaction were not disclosed.

M&A partner Tim Morris at Ernst & Young, who led the deal, said: “This transaction recognises ESP’s best in class proposition in a competitive market and highlights the importance of this market to international energy services companies.”  

Ernst & Young provided M&A and tax advice to the shareholders and Legal advice came from Addleshaw Goddard.