PE-Backed ESG Gains from Acquisition of Callisto’s Evolve

British energy management services company Energy Solutions Group (ESG), a portfolio company of European private equity firm Bridgepoint Development Capital since 2010, has attributed recent growth in its revenues in part to “a brace of acquisitions.” ESG specifically cited its non-disclosed acquisition of Wilmslow, United Kingdom-based Evolve Group of Companies from Canadian private equity firm Callisto Capital, which took place in June 2012.


Energy management services firm ESG is powering towards its £100m-turnover goal as it benefits from a brace of acquisitions and surging demand.

The Energy Solutions Group, which has its headquarters in Altrincham and a network of 10 offices across England and Scotland, is on track to clock up revenues of £55m in the 12 months to July, up from £36.8m in the previous year.

ESG has added to its turnover by buying Marsh Systems, of Gravesend, in 2011 and the Evolve group of companies, in June last year.

Evolve had its HQ in Wilmslow and was owned by Canadian private equity house Calisto Capital.

The acquisitions boosted sales by £15m respectively and took overall staff numbers to 400.

Chief executive Derek Lloyd, 54, said ESG has also seen organic sales growth this financial year after adding to its range of services.

ESG is aiming to reach £100m in annual revenues within three years, and Mr Lloyd today said the group would consider further takeovers to help achieve the milestone.

“We are in growth mode and, if the right deal comes along, we will look at it,” he said.

ESG, which is backed by private equity investor Bridgepoint, has evolved from Building Automation Solutions, which was founded in 2006 after a buyout from Siemens. Bridgepoint took a majority stake in 2010. BAS was rebranded as ESG in 2011.

The group provides energy management services to businesses and organisations with multiple sites. It serves clients in sectors including retailing, banking, hotels and leisure, pharmaceuticals, government, education and healthcare, manufacturing and construction.

The Co-operative Group, Aldi, GlaxoSmithKline and Santander are among its customers.

ESG designs and installs energy management systems which help building owners to control, monitor and reduce their energy usage. It also provides ongoing monitoring, which means faults can be fixed remotely. Its ecoCentre (correct) in Glasgow enables ESG to identify patterns of energy usage and advise clients on further ways to reduce their bills. The group, whose north west offices are in Altrincham and Preston, also advises customers on their long-term energy strategies.

Mr Lloyd said the acquisitions have given ESG the ability to sell a broader range of equipment and develop new services for customers.

He added: “Bottom-line profits are very important to all businesses and we can help them achieve growth in this respect by enabling them to become more energy-efficient. Energy prices are only going one way.

“At the same time, increased energy-efficiency enhances a company’s green credentials. We are finding that more and more people want a dialogue with us.”.

Source: Energy Solutions Group.

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