Scottish Equity Partners (SEP) and Hermes have announced the acquisition of a 40% shareholding in Anesco.
The deal will see the companies purchase Zouk Capital’s shares in Anesco, which acted as a founding shareholder for Anesco in 2013.
Samer Salty, CEO of Zouk commented: “As a founding shareholder, we are extremely pleased to have been involved with Anesco since its formation. We backed an exceptional management team which has outperformed our expectations of what could be achieved in the emerging UK energy efficiency market”.
The news is a further boon to Anesco which recently signed a £7 million finance agreement with RBS to fund its solar farm projects on the back of reporting that the company will reach revenue of £100 million following a 400% increase in order levels.
Anesco currently operates as part of the portfolio of the Environmental Energies Fund (EEF), which is managed by SEP. The share purchase will increase SEP’s stake in the company. As part of the deal, David Sneddon of SEP will join the Anesco board as a non-executive director.
Adrian Pike, CEO of Anesco, commented: “We have enjoyed our relationship with Zouk for the past two and a half years. We are delighted to have the support of SEP and Hermes to further our growth and diversification in the energy efficiency market”.