The transaction in question saw the sale of Anesco assets from Zouk Capital to Scottish Equity Partners and Hermes GPE.
Zouk, a private equity and infrastructure fund manager specialising in the clean economy, was a founding shareholder in Anesco and made a significant contribution to the growth of the company. As part of the transaction Zouk exited its total stock holding.
The buyout has been recognised by the Finance Monthly Deal Maker of the Year Awards, which celebrate the most impressive transactions made across a range of sectors and jurisdictions.
Adrian Pike, CEO of Anesco, said: “We’re delighted to receive this award, which highlights a new stage in our development. We enjoyed our relationship with Zouk and we’re pleased to have the support of SEP and Hermes as we continue to grow and diversify in the energy efficiency market.
“We always planned that within three years we would move to having a majority shareholder, to enable us to move and react to market conditions. We also felt that remaining part of venture capital markets, rather than the IPO market, was the right decision. Therefore, the transaction fitted perfectly with our strategy.”
“Our plans now are to continue to beat our five year business plans. We are diversifying in all areas of energy efficiency and renewable energy and are not afraid to drive the industry forward in new areas,” he added.
Anesco forms part of the portfolio of the Environmental Energies Fund (EEF), managed by SEP, and the share purchase has increased SEP’s stake in the company.
Following the transaction, David Sneddon of SEP has joined the Anesco board as a non-executive director. He said: “Anesco is an award winning and visionary technology led company with its sights set on significant growth. We are delighted to increase SEP’s support for the Anesco team as they drive the company to achieve its long term goals.”