Renewable energy investor Climate Change Capital has backed the management buyout of the energy efficiency services company Climate Energy for an undisclosed sum.
The buyout will be funded by Climate Change Capital Private Equity (CPE), the €200m fund dedicated to clean technology.
Following the buyout, Andrew Holmes, former general manager of Climate Energy will assume the role of managing director. He has already claimed the sale will not have an affect on operations, staff or existing contractual obligations.
Alex Betts, partner in CPE said: “We are delighted to support the management buyout of this company and we are sure we can help Climate Energy grow as it continues its efforts to support long-term UK targets for energy efficiency in housing stock. We also see opportunities for growth into complementary business areas.”
Founded by Richard Britton, Essex-based Climate Energy is CPE’s fourth investment. The company advises home owners in the public and private sector on how to make buildings more energy efficient and how to finance these initiatives.