Cheltenham-headquartered law firm, BPE Solicitors, has been praised for helping make the £7.5 million takeover of CorEnergy Limited by Sureserve Group PLC possible.
The law firm’s corporate team advised its longstanding client on its purchase of the Manchester-based energy consultancy, a specialist in helping firms move towards a net zero carbon footprint.
John Workman, BPE’s senior partner, and the firm’s head of corporate, Louise Grzasko, led the deal and advised Sureserve, with assistance from associate Angharad Rees.
Peter Smith, chief executive officer of Essex-headquartered Sureserve Group PLC, said: ‘We have worked with John and BPE Solicitors for many years and have always appreciated the direct, commercial approach they take with every transaction we look to achieve.
‘We are always confident that the advice given will help us to achieve our strategic objectives and to continue on our growth journey.’
Tom Griffin, director at CorEnergy Limited, said: ‘As national agendas become increasingly focused on reducing emissions, the opportunity to join Sureserve Group presented a compelling opportunity to drive potential further growth.’
CorEnergy has grown through the successful delivery of a number significant contracts and in the year ending 31 December 2021 is expected to achieve revenues in excess of £6m and EBITA of £1m.
Gloucestershire businessman Bob Holt, formerly of Mears Group, stepped down as chairman and chief executive of the firm in March 2021 after successfully completing its turnaround.
The addition of CorEnergy adds an estimated 70 staff to Sureserve Group and the new business ‘will supplement its existing services, with a focus on creating sustainable energy solutions for public and private sector organisations’.
By Andrew Merrell