Gas supplier gets fired up for growth after sale

A Stoke-on-Trent-based gas installation and renewable energy company has been sold to GIL Investments.

Phoenix Gas, which originally focused on gas installations and repairs, has expanded its services to include solar PV, heat pumps, EV charging and other renewable energy solutions.

Despite the change in ownership, Phoenix’s managing director, Kyle Grocott, will continue leading the company as it moves forward under GIL Investments.

With more than 160 employees and a customer base across the Midlands and North of England, the company aims to continue growing under new ownership.

The sale was facilitated by KBS Corporate, who provided advisory services throughout the process.

The Cattaneo team, led by Richard Newman, provided debt advisory services to GIL Investments, securing acquisition funding from IGF (represented by Paul Edmeades), with facilities structured to include asset-based lending and cash flow loan facilities.  George Green (Kate Hackett) and BSN (Pippa Miller-Hawkes) acted as legal and due diligence advisers to GIL Investments respectively while Shoosmiths (Natalie Barnes) provided legal advice to IGF. KBS Corporate and Beswick’s advised the Phoenix Gas shareholders.

Grocott said: “KBS has helped and advised our business throughout the process and listened to the type of buyers we were looking to bring on board. We successfully worked together to deliver on our objectives. Would highly recommend the team and Joe Norris.”

Joe Norris from KBS Corporate said: “I’m pleased with the outcome we managed to achieve for our clients.The shareholders who were looking to step away from the company and realise the value of their shares were able to do so, while the rest of the team can remain involved with the business, and I have no doubt they will take it from strength to strength under the GIL umbrella.”