Energy consultancy sold in £21m deal

Coventry-based energy consultancy Utility Team has been sold to eEngergy Group in a £21m deal.

Launched in 2009, Utility Team advises businesses which want to reduce costs and transition to Net Zero. The acquisition means it will be joined to eEnergy’s growing family of Energy-Efficiency-as-a-Service (EEaas) businesses.

Addleshaw Goddard’s (AG) Leeds Corporate team advised Utility Team on the deal. The AG team was led by Richard Hunt, Adam Hastings, Dave Parker, Aidan Barry and Nazaneen Ahmadi.

Hunt said: “Utility Team’s strong track record and strategic long-term relationships demonstrate that client satisfaction is at the heart of their business. Joining forces with eEnergy’s UK-leading group of energy companies is a great opportunity for both companies, and will enhance their ability to help deliver energy efficiency solutions to businesses at a time when it has never been more important.”

“We are delighted to have acted for the founders and the wider management team on this exciting transaction.”