- Stable legislative framework supports growth
- High energy costs and water scarcity demand drivers
- Patented technology offers material cost savings for clients
Founded in 2012, thiscompany has flown below the radar since its IPO on London’s junior market in November 2021. In fact, the share price is only marginally above the 277p listing price when it raised £12mn, at 277p a share (excludes £8mn of shares sold by selling shareholders). The cash was used to make a couple of smart bolt-on acquisitions and provide working capital to accelerate the expansion of a group that specialises in providing its customers with energy and water efficiency systems.
It's a fast-growing business that has doubled its staff to 144 employees in the past two years, and now operates from offices in London, Leeds, Washington (Sunderland), India, Spain and the Netherlands. It has received the London Stock Exchange's Green Economy Mark, highlighting its green credentials.
Importantly, the group’s senior management team has valuable experience in both the water and energy markets. Indeed, many held senior management positions at Eaga, a company that scaled up to become one of the UK’s leading providers of residential energy efficiency solutions. Eaga was generating revenue of £762mn and pre-tax profit of £41.5mn when it was taken over by support services group Carillion for £306mn in 2011. They have been working their magic at this company, having spotted a business opportunity that is being driven by both legislation and climate change.
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