Renewables firm continues acquisitive growth and eyes further M&A activity
Mon, 16 Jan 2023 | BUSINESS SALE
Green Building Renewables (GBR), a York-based low carbon and renewable technology firm, has continued its acquisitive growth with a deal for Scarborough-based MYelectrical Renewables. The deal is GBR’s sixth in the past 18 months and the company is planning to continue its acquisitive activity.
The company’s M&A spree over the past 18 months has seen it increase its turnover from £3 million to £26 million, with the firm saying it is aiming to grow turnover to £100 million by 2025. GBR’s M&A-led growth has seen its network expand to cover York, Newcastle, Norwich, Doncaster, Daventry, Colchester and Wellingborough.
The acquisition of MYelectrical Renewables expands GBR’s range of renewables solutions, enabling it to offer underfloor heating, air and ground source heat pumps, EV charging, solar PV and battery storage to customers across the east coast of Yorkshire. Post-acquisition, MYelectrical will rebrand to GBR, becoming part of the firm’s network of renewable tech installers.
Commenting on the deal, GBR Managing Director Chris Delaney said: “We are the fastest growing renewable installation business in the region, and we believe nationally too. We welcome Dan and his team to ours and really look forward to helping customers on the east coast capture the energy of Yorkshire’s seaside sunshine.”
“It’s predicted the world will add as much renewable power in the next five years as it did in the past 20. We want Yorkshire to be a leader in this global energy transformation.”
MYelectrical Renewables Founder Director Dan Oram commented: “I am extremely proud Green Building Renewables identified MYelectrical Renewables to join its rapidly growing network of renewable technology installers.”
“Their decision reflects the quality of the service we offer. The opportunity to join Green Building Renewables allows our team to offer more services and products to our regional customers.”
Philip Fellowes-Prynne, CEO of GBR parent company Efficient Building Solutions, added: “Green Building Renewables growth in Yorkshire and across England in the last 18 months has exceeded expectations.”
“The demand for low carbon and renewable technology is apparent, and the energy crisis has magnified this, which is why the company has added two new offices in the region. We welcome Dan and his team to Green Building Renewables and will continue to actively seek suitable businesses to acquire.”
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