Thu, 04 Apr 2024 | BUSINESS SALE
Green Building Renewables, an installer of renewable energy technology based in York, has expanded with its 11th acquisition. The firm has acquired Newark-based JL Phillips Renewable Energy Limited, in a deal that increases its turnover to £42 million.
The acquisition expands the group’s nationwide network into Lincolnshire, while further strengthening its presence in Nottinghamshire, where it has an existing office in Nottingham. The company stated that the deal aligns with its “overarching goal of becoming the largest installer of domestic renewable technology in the UK by 2025” and its strategy of expanding it national presence through the acquisition of “respected and reputable renewables installers”.
The company stated that it has seen “dramatic growth” since its inception in 2021, growing its turnover from £3 million to over £40 million, with the latest acquisition keeping it on track to achieve its target of £100 million turnover by the end of 2025. According to the company, its growth has been underpinned by soaring demand for renewable technology across domestic and commercial settings.
Following the firm’s latest acquisition, Green Building Renewables Managing Director Chris Delaney said: “JL Phillips is our eleventh acquisition and it demonstrates our commitment to continually investing in renewables and low carbon technology across the country as we aim to build the largest renewable installation company in the UK.”
Jason Phillips, Managing Director of JL Phillips, added: “Our team is excited about joining Green Building Renewables’ nationwide network of renewable energy experts.”
“The model Chris and his team are building to offer local installers across the country is important. It ensures customers get the best local service they can from installers who know their area and understand their needs.”
Green Building Renewables Merger and Acquisition Director Chris Joubert stated that the company is “in active conversations with other companies” and added that the firm was confident that, by the end of 2024, it would have "complete coverage of England through our nationwide local network.”
Discover more about the trends driving environmental and sustainability-related M&A activity in the UK
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