A Scottish environmental consultancy has announced a significant acquisition deal which has paved the way for a push into overseas markets.
Energised Environments has acquired Bristol-based renewable energy consultancy IT Power Consulting in a move which creates one of the largest independent players in the sector.
IT Power already operates in a number of overseas markets where demand for environmental services is burgeoning. Energised Environments’ managing director Jonny Clark, who founded the Edinburgh-based company along with three colleagues in 2013, said opportunities for the combined group overseas and in the UK were “very attractive”.
He said: “In the renewables sector in particular there is a real opportunity for the skills developed in Scotland and the UK to be deployed in international markets.
“The ink is barely dry on the acquisition deal but we are already collaborating on potential work including a solar project in India.”
Other key markets being targeted include China and Australia.
The combined company has offices in Edinburgh, Glasgow, Bristol and London with the majority of its 50-strong workforce based in Scotland.
Clark believes the business could double in size over the next three or four years following the deal.
“There is a great cultural fit between the two teams and this acquisition strengthens our growing UK business and international position, providing much greater opportunities for our combined staff.”
Although the two companies operate in the same field they don’t share any clients and focus on different sectors, with IT Power having significant interest in marine and international work and Energised Environments mainly involved in onshore based work in the UK.
Clark, who together with the other directors founded the company after working for major consultancies, said that the cuts to renewable subsidies in the UK over the past year had highlighted the importance of having a diverse business base.
Energised Environments works for clients including major utility companies, independent renewables developers and oilfield services firms. It also provides advisory services to private equity firms and institutional investors looking at taking stakes in projects.
It has worked with the likes of the Green Investment Bank, property group Knight Frank and law firm Maclay Murray & Spens in Scotland. Projects have included environmental assessments for proposals for the dualling the A96 trunk road between Aberdeen and Inverness.