Sustainable Investments Group sells minority stake

Sustainable Investments Group, based in Skelmersdale, has sold a minority stake of its business to Bridges Fund Management.

The investment will be used to support the group's growth plans across the retrofit and energy services sectors.

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 £70m in its latest published accounts.

Funds managed by Bridges have acquired a 24 per cent stake in the group's newly formed ultimate parent company. 

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.

Derek said: "I have chosen Bridges because it shares our ambition and the values behind it.

"The team understands 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."

DWF, the global provider of integrated legal and business services, advised Sustainable Investments Group throughout the deal. The DWF deal team consisted of Will Munday, Megan Gillespie, Alec Mackenzie and Victoria Shaw.

Will Munday (pictured) said: "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."