Sale to Vitruvian Partners LLP

Technology & Services
Sale to Vitruvian Partners LLP

Summary

Baird served as the exclusive financial advisor to EnServe Group Limited

About

EnServe Group Limited (“EnServe”), a portfolio company of funds advised by Cinven Partners LLP (“Cinven”), recently completed the sale of its energy division, Inenco Holdings Limited and its subsidiaries (“Inenco Group” or the “Company”), to Vitruvian Partners LLP (“Vitruvian”), management and Intermediate Capital Group plc (“ICG”). Terms of the transaction were not disclosed.

Inenco Group is a market leader in strategic energy management, procurement and risk management solutions in the United Kingdom. The Company manages energy procurement for corporate clients, small to medium sized enterprises and public sector clients across 67,000 sites and 106,000 gas and electricity meters. Inenco Group provides a comprehensive range of sophisticated energy management services uniquely covering both supply and demand side. The Company’s services are provided through three specialised brands; Inenco, Inenco Direct and NIFES. Inenco Group is headquartered in the United Kingdom.

Cinven acquired the parent company, EnServe (formerly Spice plc), in a public to private transaction in December 2010. EnServe is a leading energy and utility outsourcing business, operating principally in the UK and with a growing international presence. EnServe is headquartered in the United Kingdom and has over 3,000 employees.

Cinven is a leading European private equity firm, founded in 1977, with offices in Guernsey, London, Frankfurt, Paris, Milan, Luxembourg and Hong Kong. Cinven focuses on acquiring successful, high-quality Europe-based companies. Cinven currently manages a portfolio of 22 companies and has completed transactions valued at more than €70 billion.

Vitruvian is an independent private equity firm that specialises in middle-market buyouts, growth buyouts and growth capital investments in the UK and Northern Europe. Vitruvian focuses on investing in ‘dynamic situations’ in industries characterised by growth and change such as business services, information technology, media, telecom, financial services, healthcare and leisure. Vitruvian is currently investing its inaugural fund of €925 million and is headquartered in London, England.

For additional information about this transaction, please contact:

Jonathan Harrison +44 (0) 20 7667 8414
David Silver +44 (0) 20 7667 8216
John Lanza +1 (414) 298 7669
John Sun +44 (0) 20 7667 8224
Technology & Services
Sale to Vitruvian Partners LLP
Date
September 2013
Company
Inenco Holdings Limited
Transaction
M&A
Sectors
Technology & Services
Target Location
Europe
Acquiror Location
Europe

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