Fri, 30 Aug 2024 | DIVISION SALE
Drilling expert ADP Group has sold its geothermal division to heat network industry firm Rendesco. Following the sale, South Gloucestershire-based ADP Group will continue to focus on its ground investigation (GI) business.
Rendesco, which is based in Cheltenham, develops, builds, operates and provides access to funding for geothermal networks, along with ground source heat pump technology to decarbonise heating, hot water and cooling. The acquisition is said to provide the company with end-to-end delivery of clean heat networks, helping to significantly reduce the costs to both developers and residents.
Adrian Page, founder and director of ADP Group, said: "The sale of our geothermal division represents an exciting new chapter for both the geothermal division under Rendesco’s leadership and the continued growth of ADP Group’s GI division.”
A Thrings team, headed by partner Simon Hore, provided legal advice to ADP Group on the deal, with associate Conor Melvin providing support on corporate matters and Alex Pinhey, partner, acting on all related commercial property aspects.
The sale process also involved a legal review conducted by Thrings’ Head of Commercial Kate Westbrook, who undertook a range of preparatory work in order to ensure a smooth due diligence process with the buyer.
Adrian Page commented: “We are very grateful to Thrings for their unwavering support from the outset of this process, which has been invaluable, helping us to position ourselves well for the future."
Simon Hore, partner in the Thrings Corporate team, added: "Having been initially engaged by ADP to carry out a legal review of their business ahead of a potential sale, it was a pleasure to continue working with them throughout the full course of the transaction which helped to ensure an efficient transaction process.”
Discover how carve-outs of non-core assets and divisions can enable companies to refocus on their key operations
This independently run Heating Engineers delivers a variety of services to a wide range of clients in its local area. The business is both Gas Safe and Oftec registered, with excellent scope for further growth. They are often turning away work outsid...
A substantial industrial electrical installation company, incorporating a full design and build service is being marketed for sale. Equally adept at managing both small and large projects and with experience in multiple sectors, it has developed a pa...
The business predominantly maintains, repairs and refurbishes rotating machinery, typically used in manufacturing production lines, and food storage etc, including industrial gear boxes, electric motor rewinds, dynamic balancing and pump repairs. It...
31
|
Mar
|
Realise continues buy and build strategy with Smart deal | BUSINESS SALE
PE-backed training provider Realise Training Group has bough...
31
|
Mar
|
Shoothill buys IT support firm Dynacom in friendly deal | BUSINESS SALE
Shoothill, the Shropshire-based full service digital technol...
31
|
Mar
|
Survey Solutions buys peer SurvaTec | BUSINESS SALE
Survey Solutions has bought Essex-based utility surveying sp...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.