Tue, 08 Aug 2023 | BUSINESS SALE
York-headquartered cleantech firm Green Building Renewables (GBR) has continued its rapid growth with the acquisition of Hampshire renewables business Solar Voltaics. The company is the eighth renewables firm to join GBR and the firm looks set to continue growing acquisitively.
GBR provides renewable technology solutions via its network of local experts, offering air and ground source heatpumps, solar PV, EV charging, underfloor heating and battery storage. The acquisition represents part of its strategic plan of developing a solar energy offering across the country.
Following the acquisition, GBR has significantly boosted its network, which already included regional offices in York, Newcastle, Oxford, Doncaster, Scarborough, Daventry, Colchester, Wellingborough, Nottingham, Cambridge and Norwich. The deal follows a period of rapid growth for GBR, which, in the wake of the latest acquisition, says it has now grown its revenue from £3 million to £35 million over the past 18 months.
Solar Voltaics is based in Chichester and serves commercial clients in London and the rest of the UK, as well as residential customers across Hampshire, Dorset, Surrey, Sussex and Berkshire. The firm, which has more than 12 years of experience, provides renewable energy systems for businesses, homeowners and local authorities.
Commenting on the deal, GBR Managing Director Chris Delaney said: “We continue to grow our nationwide network by acquiring respected and reputable businesses like Solar Voltaics. The South Coast is known for its rich natural beauty and vibrant communities, making it an ideal location for Green Building Renewables to expand.”
Philip Fellowes-Prynne, CEO of GBR’s parent company Efficient Building Solutions, added: “Our mission is to lead the UK’s transformation to efficient, sustainable buildings. Green Building Renewables’ rapid growth and expansion in the last 18 months, from a turnover of £3m to £35m, reflects the demand for low-carbon and renewable technology in the UK.”
Fellowes-Prynne added that GBR was aiming to become the UK’s largest renewable installation firm and reach turnover of £100 million by 2024.
ESG is now a vital part of M&A - read more in this exclusive BSR insight.
Read about another GBR acquisition from earlier this year.
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