Funds managed by Bridges Fund Management have acquired a 24% stake in the group's newly formed ultimate parent company. Sustainable Investments Group comprises Sustainable Building Services, Sustainable Energy Services, Permarock and Sustainable Smart Technologies, operating across domestic green retrofit, energy services, building products and smart technology. The group recorded turnover of £70 million in its latest published accounts.
The investment will support the group's medium-term growth strategy, including developing its existing businesses, entering complementary markets and pursuing selective acquisitions and commercial partnerships.
Derek Horrocks will remain chairman and majority shareholder, retaining overall control of the group and continuing to lead the business alongside its existing leadership teams. Charlie Edwards, Partner and Co-Head of Inclusive Growth at Bridges Fund Management, will join the newly formed group board.
Commenting on the deal, Derek Horrocks said: "I have chosen Bridges because they share our ambition and the values behind it. They understand that commercial success and positive impact go hand in hand, and their experience, wider team and relationships will help us accelerate our growth and deliver my vision for the group."
The DWF deal team consisted of Will Munday (Partner, Corporate), Megan Gillespie (Associate, Corporate), Alec Mackenzie (Solicitor, Corporate) and Victoria Shaw (Trainee, Corporate).
Will Munday added: "We are delighted to have advised Sustainable Investments Group on this significant investment, which represents an important milestone in the group's development. The partnership with Bridges provides a strong platform to support its ambitious growth plans, including expanding its existing businesses and pursuing new opportunities across the retrofit and energy services markets. It was a pleasure to work with Derek and the wider team on this transaction, and we wish them every success for the next stage of their journey."
The investment will support the group's medium-term growth strategy, including developing its existing businesses, entering complementary markets and pursuing selective acquisitions and commercial partnerships.
Derek Horrocks will remain chairman and majority shareholder, retaining overall control of the group and continuing to lead the business alongside its existing leadership teams. Charlie Edwards, Partner and Co-Head of Inclusive Growth at Bridges Fund Management, will join the newly formed group board.
Commenting on the deal, Derek Horrocks said: "I have chosen Bridges because they share our ambition and the values behind it. They understand that commercial success and positive impact go hand in hand, and their experience, wider team and relationships will help us accelerate our growth and deliver my vision for the group."
The DWF deal team consisted of Will Munday (Partner, Corporate), Megan Gillespie (Associate, Corporate), Alec Mackenzie (Solicitor, Corporate) and Victoria Shaw (Trainee, Corporate).
Will Munday added: "We are delighted to have advised Sustainable Investments Group on this significant investment, which represents an important milestone in the group's development. The partnership with Bridges provides a strong platform to support its ambitious growth plans, including expanding its existing businesses and pursuing new opportunities across the retrofit and energy services markets. It was a pleasure to work with Derek and the wider team on this transaction, and we wish them every success for the next stage of their journey."
