£40m testing firm acquires Lutterworth training and software company
Nottingham-based Phenna Group, the group of specialist businesses focused on the testing, inspection, certification and compliance (TICC) sector, has bought Lutterworth-based Elmhurst Energy systems, the provider of energy assessment training, software and accreditation for an undisclosed amount.
This is the fourth acquisition bullish Phenna has made this calendar year. Phenna has nine companies in its group and last year turned over £40m.
Elmhurst was established in 1993 and is the UK’s leading independent provider of energy assessment training, software and accreditation including the widely used Energy Performance Certificate (EPC). The company’s current portfolio of products and services include, Energy Performance of Buildings Directive (EPBD) accreditation, including domestic and non-domestic EPC’s, display energy certificates, air conditioning inspection, competency schemes such as legionella, air tightness testing, whole house retrofit schemes and energy and sustainability in the built environment consultancy.
Stephen O’Hara, chairman of Elmhurst will continue in his current role, alongside Martyn Reed, managing director.
O’Hara said: “For our employees and customers, very little will change on a day-to-day basis as a result of this deal, but they should all benefit from the investment, growth and opportunities created through this partnership with Phenna Group. At Elmhurst, we operate with a customer-first philosophy, so finding a likeminded partner was very important to us. Since meeting Phenna, they have consistently acted with professionalism, including delivering on their commitments. All my team are looking forward to the next phase of our expansion working in close collaboration with the Phenna Group team.”
Paul Barry, group CEO, Phenna Group, said: “I am delighted that Stephen and his team will be joining Phenna Group. Elmhurst Energy fits closely with our strategy of creating a differentiated group of niche TICC businesses and has a shared growth ambition which resonated well. I’m looking forward to working with Stephen and his team to help deliver their very ambitious growth plans. The deal starts an exciting next stage in the development of our Group”.
Clearwater International advised Elmhurst. The team consisted of partners Jon Hustler, Rob Burden and Rob Britton, director Mark Maunsell and associate Thomas Hickey.
Burden said: “It has been a pleasure to advise Stephen and the team on this transaction. In Phenna, Elmhurst has found the ideal partner to support further development of the company. Stephen and Martyn will continue to lead Elmhurst and drive the growth strategy, however the company will now benefit from the financial, commercial and strategic support of Inflexion backed Phenna Group. We’d like to wish both teams at Elmhurst and Phenna all the best and we look forward to seeing the businesses grow.”
Phenna Group were advised by Knights (Nottingham) and RSM Corporate Finance (London).
Austin Moore in Nottingham provided legal advice to Elmhurst Energy.
