Kendra Energy Solutions introduces Employee Ownership scheme
Leading provider of energy management systems, Kendra Energy Solutions has transitioned to an Employee Ownership Trust (EOT), with funding support from Shawbrook.
At a glance
Kendra Energy Solutions, a leading provider of energy management systems and services, has transitioned to an employee ownership trust (EOT) in a 7-figure deal backed by specialist lender Shawbrook.
Founded in 1999, Kendra is a well-established player in the energy management systems market, providing recurring services to a diverse blue chip client base located all across the UK. Across their six offices Kendra has a total of 180 employees, with 100 of these being engineers. Kendra designs, installs and maintains Building Energy Management Systems (BEMS) which monitor and control a building’s electrical and mechanical equipment including heating, ventilation and lighting systems.
The deal will see co-owners, Gary Ford and Chris Mills continue to manage the business under the EOT along with the senior management team. Kendra prides itself on being a people-focused business as such the existing owners believe the change in ownership will feel more like another step in an ongoing evolution that will help to retain and attract new talent, rather than a hallmark change.
Kendra recognised Shawbrook’s credibility and track record in supporting Employee Ownership Trusts, which was a critical factor in being chosen as the funding partner for the deal.
At Kendra, we have long prided ourselves on our employee-first model and therefore, when the time came to plan for a future exit for myself and Chris, pursuing an EOT was the obvious strategy. Shawbrook has a proven track record of completing and funding these types of deals and were an obvious choice for us. It was a pleasure to work with the team and we look forward to watching Kendra continue to thrive under the new business model.
John Palmer, Senior Director at Shawbrook, commented:
“Kendra is a strong business and a true leader in its field, it was a pleasure to work with them on this transaction. At Shawbrook, we continue to champion businesses taking the EOT route and pride ourselves on our experience in supporting with the complexities involved in these transitions.”
Shoosmiths acted for Shawbrook on the deal and Mazars conducted the Financial Due Diligence.
Osbourne Clarke acted on behalf of Kendra Energy Solutions.
How can we help you build your business?
Our team of experts across the UK are ready and waiting to speak to you about how we can help you realise your business aspirations. Use our enquiry form to get in touch, or contact the team directly through our contact page.