Thu, 03 Jul 2025 | BUSINESS SALE
Energy services firm Earnz plc has completed its third acquisition with a £2.8 million deal for A&D Carbon Solutions. Earnz, which is based in Cheltenham, is using M&A to capitalise on growing demand for decarbonisation services.
The acquisition comprises an initial consideration of £1.3 million, including £840,000 in cash, £260,000 in consideration shares and a further £200,000 held in escrow and dependent on performance targets.
An additional deferred consideration of up to £1.5 million will be payable depending on A&D meeting EBITDA targets over the next two years.
A&D Carbon Solutions is based in Swansea and specialises in a range of decarbonisation solutions, including solar panels, air source heat pumps and cavity wall insulation. The company’s primary focus is on improving the Energy Performance Certificate (EPC) ratings of residential properties through government funding schemes.
In the nine months to April 30 2025, A&D reported unaudited revenue of around £2.9 million, EBITDA of £216,000 and pre-tax profits of £163,000.
The acquisition of A&D is the latest in a series of transactions for Earnz, which was transformed from a LSE shell company into a trading business by prominent South West entrepreneur Bob Holt. Holt is best known for serving as chairman of Gloucestershire-based Mears Group during its expansion from a small local contractor into a £3 billion national business.
Earnz established itself in the rapidly growing property decarbonisation market last year, with the acquisitions of Cosgrove & Drew (C&D) and South West Heating Services (SWHS) in August 2024.
In June 2025, Earnz stated that it had made a successful start to its goal of becoming a "significant group in the energy services sector focusing on the decarbonisation of public and private sector building fabric”, amid increasing levels of government funding for clean energy and the net zero transition.
Government infrastructure spending and the need to retrofit residential properties during the drive to net zero are both key factors driving M&A in the civil engineering space.
This business offers a comprehensive range of road surfacing and civil engineering services, supported by significant investments in state-of-the-art equipment and a recently acquired operational site in Scotland to optimise efficiencies. With robust...
A lucrative opportunity awaits with the sale of a thriving civil engineering contractor, featuring a robust plant register of wholly owned excavators, machinery, and vehicles.
This is an exceptional opportunity to acquire a dynamic and rapidly growing conservatory refurbishment company, boasting a skilled team and strong trading growth across Scotland and northern England.
03
|
Jul
|
Energy services firm completes third acquisition | BUSINESS SALE
Energy services firm Earnz plc has completed its third acqui...
03
|
Jul
|
Newcastle life sciences firm falls into administration and ceases trading | ADMINISTRATION
AMLo Biosciences, a life sciences firm based in Newcastle, h...
03
|
Jul
|
Matthew Freud exploring possible sale of eponymous PR consultancy | BUSINESS SALE
Leading public relations executive Matthew Freud (pictured) ...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.