Edina Power Solutions Limited (Edina), the UK and Ireland’s leading supplier, installer and maintenance provider of natural gas and biogas combined heat and power applications, has been purchased by EPAL.
We acted as lead advisers to the shareholders of Edina. Fieldfisher provided legal advice. PKF FPM provided tax advice.
EPAL is a joint venture between EnergyPro Asset Management Limited (EnergyPro) and Energy Efficiency Services Limited (EESL), an Energy Service Company established in 2010 by the Ministry of Power, Government of India.
The deal, for an undisclosed figure, will give the new owners a platform for growth in both the UK and overseas, and promises more jobs and further investment.
The companies involved
Established in 1985, Edina employs 200 people across its UK headquarters in Manchester and manufacturing base in Lisburn, Northern Ireland, and provides work for 400 contractors. Edina also has a small operation in Australia.
EnergyPro is a UK based company which aims to accelerate investment into energy and resource efficiency. EESL is the world’s largest public energy services company, owned by the Indian Public Service Undertaking, which includes National Thermal Power Corporation, Rural Electrification Corporation, Power Finance Corporation & Power Grid Corporation. The four organisations have a combined market capitalisation of more than $30 billion.
Under the administration of the Ministry of Power, Government of India, EESL is working towards mainstreaming energy efficiency and is implementing the world’s largest energy efficiency portfolio in the country.
What people said
Tony Fenton, Joint Managing Director, Edina stated:
“We are looking forward to this new chapter in our growth story, of replicating our success in new markets while leveraging EESL’s experience across the globe. The opportunities in a vibrant and dynamic economy like India’s are particularly attractive for us, and we’d like to be able to introduce Indian industry to the benefits of CHP and our unique service offering.”
Our team was led by Andy Parker:
“This is another significant example of a cross-border transaction completed with a strategic buyer. We wish management and the business all the best for the future.”