Substantial investment for expanding Manchester energy business
Think Hire, the relocatable renewable energy business of Manchester-based Think Energy Group, has received a ‘substantial investment’ from YFM Equity Partners, supported by FRP Corporate Finance.
YFM’s investment will enable Think Hire to undertake the next stage of its development by significantly growing its asset hire fleet, extending its distribution network across the UK, and ramping up investment in developing new products and services to help clients meet their net zero goals.
Established in 2018, Think Hire was created to enable the construction sector to improve its environmental performance in the face of the climate crisis.
The business has doubled its revenues year-on-year since 2020. There are currently 20 people in the business, with plans to grow this nationally over the next few years.
YFM Equity Partners was advised by our FRP Corporate Finance team in Manchester, including corporate finance partner, Heath Snyder, debt advisory director, Andy Pickford, and associate director, Alex Starling.
YFM typically invests between £2m and £10m into businesses with strong growth potential located across the UK through a regional network of offices in London, Leeds, Manchester, Reading and Birmingham.
Heath Snyder said: “Think Hire’s company mission is to provide innovative, cutting-edge products to meet the UK infrastructure sector’s demand for cleaner, greener, and more cost-effective off-grid power generation.
“We are seeing more private equity investors like YFM investing in businesses that are delivering growth through the green energy revolution, of which Think Hire is an outstanding example.”
Dan Freed, partner at YFM Equity Partners, said: “What makes Think Energy Group such a compelling investment opportunity is that it is aligned technically and strategically to the UK infrastructure sector, which has strong tailwinds underpinned by record levels of government commitment to future investment.
“This, coupled with their innovative and sustainable product offering making Think Energy Group a differentiated green power specialist, is why we are so excited about this investment.”
Think Hire has a number of locations, including two in Greater Manchester at Atherton and Chadderton, Harpenden, Irvine in Scotland, and Dubai.