Kingston Smith advises the Monarch Partnership on its acquisition of Utilitywise’s corporate division
Kingston Smith is delighted to have assisted the Monarch Partnership on its acquisition of Energy Intelligence Centre (EIC) and T-Mac Technologies (T-Mac), which comprised the corporate division of Utilitywise, in a buy-out from administrators of their parent company.
The deal will help the company achieve its aim of developing end-to-end expertise in energy management and carbon reduction solutions which will cut energy consumption across its client portfolio by a fifth by 2025.
The transaction creates a utility consultancy boasting combined revenues of £20 million. All EIC and T-Mac Technologies staff will join the Monarch Partnership, saving 250 jobs, and the companies will continue to trade under their existing brand identities.
Peter Dosanjh said: ‘’Kingston Smith was instrumental in the transaction and acted as lead adviser on the negotiations on our side. They understood our focus on helping our clients become fully sustainable energy users and our objective to be the UK’s leading intelligent utilities partner. They have a wealth of expertise in advising growing businesses.’’
Matt Meadows, corporate finance partner at Kingston Smith, said: “It was a pleasure to work with such an ambitious organisation with great opportunities ahead in the utilities space, and we are excited to see what the future holds.’’
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