Sale of Empower Energy to Good Energy Group PLC
We are delighted to have acted for the shareholders of Empower Energy in the recent sale to Good Energy Group PLC. This acquisition was a strategic sale and represents an important step in Good Energy’s strategy to significantly expand its presence in the commercial solar installation market.
Empower Energy is a nationwide provider of solar photovoltaic (‘PV’) installations. The company provides full design, project management and installation for ground-mount, on-roof, and in-roof solar PV solutions as well as electric vehicle charging solutions and battery storage. With around 15MW of installed power each year, and holding a suite of exceptional quality standards, Empower provides a wide range of solar solutions to largely to commercial and blue-chip clients.
The shareholders of Empower Energy selected TheNonExec to undertake a global search for strategic buyers who could provide strong synergy and continued growth for the business.
Managing Director of TheNonExec, Justin Levine, commented:
“Empower has grown to be a significant player in the UK renewables sector. Our research team spent a considerable amount of time evaluating over 1,000 potential companies across Europe, and we entered confidential discussions with around 100 companies from 7 different countries. There was strong demand for the company, and we were delighted that the AIM-listed Good Energy Group PLC was selected by the shareholders. There is an excellent strategic and cultural match between the two companies, and we are confident that the combined business will go from strength to strength.”
Good Energy Group PLC (AIM: GOOD) is a supplier of 100% renewable electricity supplier and energy services provider and listed on the AIM-market (AIM: GOOD). It has long term power purchase agreements with a community of more than 2,500 independent UK generators. Since it was founded 25 years ago, the Company has been at the forefront of the charge towards a cleaner, distributed energy system. Its mission is to power a cleaner, greener world and make it simple to generate, share, store, use and travel by clean power. Good Energy is recognised as a leader in its market, through its B Corp accreditation, Which? Eco Provider status and Gold Standard Uswitch Green Tariff accreditation for its standard tariff.
In terms of the deal support, Justin Levine said:
“We were delighted to work alongside a highly specialist team of local advisors, notably Shaun Guppy of law firm Steele Raymond LLP, and tax specialist Andrew Lines of Lines & Co. Ltd.”
Congratulations to all involved in this deal. We wish both parties a very successful future.
Tags: acquisitions, Andrew Lines, company sale, empower, energy, Good Energy, Good Energy Group PLC, Lines tax, mergers, PV, renewables, Shaun Guppy, solar, SteeleRaymond, strategic, TheNonExec
