Thank you!
A very big thank you from all of us at the MDHUB for delivering a very thought provoking seminar this afternoon and for also delivering the MDHUB/ BeePurple seminar earlier today.
Your time, expertise and support of our members' businesses is very much appreciated.
Fiona Shafer, Director MD Hub
Castle advises on the acquisition of Power Efficiency Holdings by Balfour Beatty PLC
Castle Corporate Finance is celebrating after advising its client Power Efficiency Holdings, the Sidcup-based energy procurement and carbon strategy consultancy, on its recent £18 million sale to Balfour Beatty PLC, the international infrastructure group.
Mike Norrie, a director of Tonbridge-based Castle Corporate Finance, was retained in 2010 to consider options to maximise shareholder value and realise personal career aspirations.
Interest from a number of private equity houses was considered, before talks began with Balfour Beatty PLC in November 2010. Those talks soon demonstrated a tremendous future opportunity for Power Efficiency, its shareholders and staff.
Power Efficiency is a leader in the energy management market, providing energy procurement, invoice validation, compliance and carbon reduction advisory services to a range of private sector customers.
Power Efficiency will be integrated with Balfour Beatty Workplace's existing capabilities in energy management to create a leading energy services business.
"Mike was a great support to the shareholders throughout and ensured best terms on an amicable basis," says Bobby Collinson, Power Efficiency managing director. "It has been fun to work with Castle too!"
Mike Norrie adds: "The Power Efficiency team have been great clients to work with and we wish them every success for the future with Balfour Beatty PLC."
Notes to editors:
• Tonbridge-based Castle Corporate Finance is a multi-disciplinary team that delivers a personal and professional service to businesses across the UK and overseas which are considering significant structural change, such as a sale or growth by acquisition.
• Castle Corporate Finance is headed up by directors Mike Norrie and Colin Harvey.
• Mike is a Chartered Accountant and has specialised in corporate finance for more than 20 years. His experience includes being head of M&A at a top 10 accounting firm and director of the corporate finance arm of a quoted business advisory group. He specialises in strategic advice to owner managers and the negotiation and structuring of acquisition and disposal transactions.
• Colin is an international and corporate banker with over 20 years of experience, working primarily with owner-managers. Since becoming involved in advisory corporate finance in 1995, he has helped many owner-managers in a wide variety of industries as they realise their exit plans. As Castle's head of research, he also has responsibility for working closely with directors seeking to grow their businesses by acquisition.
• Castle Corporate Finance is a member of Integra International, an interactive global association of independent consulting firms dedicated to advising growing businesses. Castle leads M&A for the Corporate Finance Business Unit, representing both Integra and the sister legal group, the Alliance of Business Lawyers.
For more information on this media release, please contact Angela Ward on: 01825 765617 or by email: angela@themarketingeye.com
