Energy group acquired by insulation provider
Gloucestershire-based Cotswold Energy Group has been sold to an industry-leading insulation provider.
The company, located in Stonehouse near Stroud, works in the commercial and domestic markets, offering air source and ground source heat pumps, as well as solar PV and has been bought by South Coast Insulation Services (SCIS).
Shareholders Jonathan Bonnar, Robin Hodge and Aaron Stuart-Kelso instructed KBS Corporate on the sale as part of Cotswold Energy’s growth strategy.
Fabio Rambelli, associate director at KBS Corporate, who advised on the sale, said: “Jonathan, Robin and Aaron were looking to secure the value of the company while simultaneously sourcing capital investment.”
SCIS is a Tier 1 partner of several of the big six energy suppliers, capable of securing long-term funding for housing associations and property owners as part of its energy efficiency service package.
SCIS CEO Nicolas Gillanders said: “We’ve been able to acquire Cotswold Energy in a move that gives us an opportunity to build on our existing offering as like-minded businesses, with a shared goal of helping customers reduce their carbon emissions.”
Harrison Clark Rickerbys and Foot Anstey supported the transaction as solicitors for the two parties, while SCIS was assisted by PKF International and FRP Advisory as due diligence and corporate finance advisors respectively.
Rambelli added: “It has been an incredible pleasure to work with the Cotswold Energy shareholders and I am very happy we have been able to secure a deal for them. I have no doubt SCIS and Cotswold Energy will have successful futures and I wish all involved the very best.”
