RSK has strengthened its renewable vitality providing with the acquisition of HV Energy Systems (HVES) for an undisclosed sum. FRP Company Finance equipped sell-side recommendation to HVES.
Based mostly in Bristol, RSK specialises in high-voltage grid connection infrastructure for renewable vitality and vitality storage tasks throughout the UK. RSK now includes greater than 200 firms and employs over 17,000 individuals worldwide.
Based by engineers Craig Steven and Louis Wright, HVES is a specialist unbiased connections supplier that delivers high-voltage grid connection infrastructure for renewable vitality and vitality storage tasks. Its end-to-end providers, together with turnkey design-and-build options, make it a strategic addition to RSK’s rising vitality portfolio.
RSK chief government officer Alan Ryder stated, “HVES’s functionality is especially valued by renewable vitality builders, for whom grid connection is each technically advanced and schedule-critical. Delays to energisation can materially have an effect on tasks, growing the significance of supply certainty and confirmed technical functionality. This makes the HVES group a vital aspect in the success of tasks that contribute drastically to UK vitality safety.”
RSK’s newest acquisition comes because the group continues its push in direction of £5 billion in income, having already surpassed £2.2 billion – up from £275 million in 2020 – pushed by world acquisitions throughout water, vitality, infrastructure and environmental markets.
In the meantime, the deal presents alternatives for HVES as nicely. Administration and all 24 employees will stay, making certain continuity of service – whereas Steven and Wright, will proceed to guide the corporate beneath its present delivery-focused mannequin.
Steven famous, “We’re excited to be becoming a member of RSK Group. This partnership will strengthen the service and assist we ship to purchasers, backed by elevated scale and entry to a wider community.”
Deal advisors
Osborne Clarke offered sell-side authorized assist, Cortus Advisory delivered monetary and tax due diligence, CIL equipped business diligence, and Fladgate put out buy-side authorized providers on the deal. FRP Company Finance, led by associate Mark Naughton, supported by Kush Kunwar and Tom White, acted because the lead advisers to the shareholders of HVES on the sale.
The group labored with the shareholders and administration to assist put together the enterprise on the market, determine potential consumers, together with RSK Group which was the shareholders most well-liked associate to take the enterprise ahead. FRP Company Finance led the business negotiations, managing the method by way of to a profitable completion.
Naughton commented, “It has been a pleasure to work with Craig, Louis and the administration group. They’ve constructed a terrific enterprise that has a robust status in their market, and we’re delighted to have helped them discover and negotiate a transaction with RSK who’re a great associate for the enterprise. We’re witnessing robust curiosity from traders in the broader vitality transmission and vitality transition sectors in the mean time from each UK and abroad corporates and personal fairness and count on to see various different transactions full in the close to future.”
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