Power consultancy acquired by sustainability specialist
A specialist energy consultancy that works with organizations to implement integrated low carbon technologies was sold in a transaction advised by PEM Corporate Finance.
Element Energy, headquartered in Cambridge, was founded in 2003 and has experience in the built environment, transport and mobility, energy and broader industrial sectors.
The company was taken over by the pure sustainability consultancy ERM.
The transaction will add around 90 Element employees based in the UK, France and Australia to ERM’s 5,500+ employees. Ben Madden, who co-founded Element Energy with Shane Slater, will be part of the executive team along with Celine Cluzel, Ian Walker, Alex Stewart, Lisa Ruf, Sam Foster, Mike Dolman and Mark Hughes.
Element Energy’s Ben Madden said, “We are very excited to join ERM. We are very much looking forward to deepening our relationship with the ERM Group in the coming months after numerous successful collaborations in the run-up to the acquisition.
“We are confident that the alignment of values between our organizations means a successful future that meets the needs of our customers and brings about the change that is necessary for the global energy transition.
“I would also like to thank PEM and BDB Pitmans for their professional advice.”
PEM was commissioned by the sellers to provide corporate finance and tax advice on this transaction.
Jan Fachot, Business Tax Partner at PEM Corporate Finance, said: “We are proud to have advised Element Energy on their sales process and wish the management team as part of the ERM 2 Group only the best.
“This was a team effort from my PEM colleagues across departments, with a special mention to Matthew Eady, Lake Falconer, Ned Brown, Angus Wood, Ben Edwards, and Helen Stock.”
Legal advice to the sellers was provided by Duncan Walker and Ross Fletcher of BDB Pitmans.