Our corporate finance team was appointed by the shareholders of Solfex Energy Systems to identify a strategic acquirer for the company.
Solfex was set up in 2006 by Stuart and Susan Cooper and today operates as an integrator of renewable energy systems, using its distribution platform to integrate and supply components to the UK’s renewable energy companies. The business prides itself on providing a value-added service to customers through comprehensive technical and customer support.
In September 2011, it secured equity investment from Panoramic Growth Equity, an equity investor in fast growing, entrepreneurial companies.
With a team of only 15 staff, Solfex has generated a cumulative annual revenue growth rate of 179% over the past three years and in December 2012, was listed as the UK’s fifth fastest growing private company in the Sunday Times Virgin Fast Track 100. In its last financial year, Solfex achieved revenues of £21.9 million. Initial consideration was £8 million with further amounts due depending on performance.
Using our industry insight and international network of relationships, a number of potential UK and international acquirers were identified and introductions were made. This resulted in an agreement being made with Travis Perkins, the UK’s largest supplier to the building and construction market.
Travis Perkins is an ideal partner for Solfex and will provide significant opportunities for further growth. Stuart Cooper will remain in his permanent position as Managing Director following the deal.
Grant Thornton were always on hand to explain all aspects of the transaction to the management team and shareholders. They ran an efficient process that allowed me to continue to run the business while having confidence the transaction was in good hands. I found their approach flexible, honest and thorough and I was delighted with the outcome of the transaction.
Stuart Cooper Founder & Managing Director, Solfex Energy Systems
