Tue, 22 Oct 2024 | BUSINESS SALE
Global consulting firm Projective is targeting expansion after Bonheur ASA, the Norwegian industrial investment company, acquired a majority stake in the business.
Founded in 2004 by Ray Welham and other founding directors, Projective offers engineering consultancy advice and project expertise in utilities management, energy efficiency and sustainability helping its blue-chip clients across various industries meet their Net Zero Carbon goals. It has offices worldwide in the UK, US and Europe.
Bonheur, listed on the Oslo Stock Exchange, has 176 years of experience in renewable energy, shipping and various maritime activities.
The investment from Bonheur, not declared but understood to be £10million, will provide Projective with growth capital, enabling it to scale its operations, both organically and via targeted acquisitions. Bonheur said the investment would benefit the company and its clients by expanding its range of services and enhancing its market position through increased marketing and improved systems.
“We have a proven track record of helping companies reduce their energy and water use and meet environmental goals, such as becoming carbon-neutral. Simply put, we assist companies to save energy and water, reduce costs, and improve sustainability in their operations,” Welham, pictured, said. “This investment will assist us to better service global corporations, add further corporate accounts to our already successful business, and attract talent through new business opportunities.”
Lloyd Butterworth, Investment Director at Fred. Olsen Investments AS which manages new investment opportunities for Bonheur and is responsible for this acquisition, added: “We are looking forward to partnering with Projective and to assist them to scale in the coming years. Projective’s focus on energy consumption, manufacturing carbon intensity and energy efficiency is of great societal importance, and we will help them to meet their clients’ decarbonisation goals.”
Other companies managed by Fred. Olsen include Norwegian company Cenate which develops and produces silicon-containing anode materials to be used in lithium ion batteries, Danish firm NPP Renewables which has a focus on offshore wind energy and UK company Tepeo which has developed a zero emissions boiler.
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