Ara Partners has acquired Anesco Holdings, the parent company of Anesco Group. No financial terms were disclosed. UK-based Anesco is a renewable energy company.
HOUSTON and READING, United Kingdom, June 14, 2021 /PRNewswire/ — Ara Partners, an industrial decarbonization-focused private equity firm, today announced that it has acquired Anesco Holdings, the parent company of the Anesco Group. Terms of the transaction were not disclosed.
Anesco is a UK market leader in renewable energy that manages the development, design, construction, maintenance and market optimization of renewable energy and energy efficiency projects. The company has developed and constructed more than 115 solar farms and energy storage facilities, including the UK’s first solar farm free from subsidies, while its operations and maintenance service now has close to 1.2GW of renewable assets under management.
Ara Partners acquired Anesco through its portfolio company Aksiom Services Group, which is a rapidly growing platform providing high-value, high-complexity technical and commercial services to the European infrastructure market. The acquisition of Anesco is the second by Aksiom Services Group, following the April 2021 acquisition of Stockton-on-Tees-based px Group, which provides integrated infrastructure solutions.
Charles Cherington, Co-Founder and Managing Partner of Ara Partners, said, “Our focus is on accelerating decarbonization by investing in and building ambitious companies such as Anesco that have energy efficiency and sustainability at their heart. Anesco is an outstanding acquisition to Aksiom Services Group and we look forward to working with Mark Futyan and the entire team to grow the business.”
Mark Futyan, who joined Anesco as CEO in 2020, will continue to lead the business with the support of the senior management team. Mr. Futyan commented, “This is a pivotal moment for Anesco, as we gear up to deliver the next wave of large scale, subsidy-free solar and energy storage capacity.
“Ara Partners and Aksiom Services Group are ideal partners for Anesco, due to their strong focus on the services business model and commitment to supporting the net zero energy transition. We look forward to working with our new investors to accelerate Anesco’s growth in both our core business areas and by entering new markets.”
About Ara Partners
Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that are focused on sustainability and ESG principles. For more information on Ara Partners, please visit www.arapartners.com.
Anesco is a market leader in renewable energy, managing the development, design, construction, maintenance and market optimization of renewable energy and energy efficiency projects. The company has constructed more than 100 solar farms, while its O&M service is monitoring more than 24,000 sites.
Anesco was the first company in the UK to achieve subsidy-free solar; first to introduce utility-scale energy storage and first to co-locate energy storage with existing solar sites to meet the ROC requirements. To date, the technologies the company has deployed and manage are generating over 1GW of renewable energy. For more information on Anesco, please visit www.anesco.co.uk.