Note: The contents of this article are the author's opinion and have not been approved as a financial promotion.
We are delighted to announce that we have successfully sold our investment in electric vehicle charge point specialist BMM Energy Solutions to Drax Energy Solutions, part of Drax Group, the FTSE 250 energy generation business.
This investment consisted of a mezzanine loan and an associated equity stake, with the exit resulting in a 22% IRR.
BMM Energy Solutions is a specialist supplier and installer of electric vehicle charging equipment in the public sector, workplace and domestic sectors. The company was founded in 2013 and has enjoyed significant growth to become one of the UK’s leading EV charge point installation firms, installing over 13,000 EV charge points to date.
Since Growthdeck backed the business in 2021, it has successfully expanded its installation network, adding services contracts for major national organisations including local authorities and property management companies.
The acquisition of BMM Energy Solutions strengthens Drax Energy Solutions’ end-to-end charging proposition to UK businesses.
BMM Energy Solutions has been Drax Energy Solutions’ primary installation partner since 2018 and the companies have previously worked together to electrify the fleets of businesses including FI Real Estate, SES Water and Travis Perkins.
BMM Energy Solutions’ management and staff are now part of the Drax Energy Solutions team and operate from sites in Airdrie, Scotland, and Gatwick, South East England.
Our CEO, Ian Zant-Boer, says:
“We wish the entire BMM Energy Solutions management team the best of luck for their future journey with Drax Energy Solutions.”
“We believed in their plans for the business from the beginning and it’s great to see them move it on to the next stage of its growth.”
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