Mon, 04 Mar 2024 | BUSINESS NEWS
Environmental consultancy Isle Utilities has secured investment from private equity firm Palatine as it moves to its next stage of growth. Isle Utilities is a global innovation consultancy that specialises in the development and commercialisation of emerging technologies in the water and environmental industries.
The investment, the fourth from Palatine’s Impact Fund II, sees the private equity firm take a majority share in the company. Isle Utilities was founded in 2010 by Dr Piers Clark, an industry expert and former Managing Director of Blackstone-backed Global Water Development Partners and Commercial Director at Thames Water.
The company is currently led by Chief Executive Dr Benjamin Tam. Following the investment, Dr Clark will remain on the company’s board as a non-executive director, while Ian McAuley, former CEO at both Southern Water and Viridor, will join as chair.
Dr Piers Clark said: "Palatine has an impressive track record in impact investing and ESG-driven value creation and I am excited to be working with the team to take Isle Utilities to the next level at a time of huge demand for innovation and investment in the water industry.”
Rupert Brown, Senior Investment Director in Palatine’s Impact Fund team, said that Isle Utilities was a company “which shares our passion to make a difference to our planet and society.”
He continued: "In the wake of the COP28 summit, the focus on water security and quality has moved further up the international agenda. Water consultancy related services are becoming more valuable, and innovation within these spaces is paramount."
"This makes Isle Utilities a great investment opportunity for Palatine and the Impact Fund. Focused on delivering returns in the right way, we look forward to supporting and working with Ben, Piers and the team."
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