DWEC and DWEC Europe operate in theĀ building energy management systems (BEMS)Ā arena, predominantly in the South of England and Channel Islands. The Group is one of the UKās leading systems integrators and managed service providers.
Established in the early 1990s,Ā DWECĀ servesĀ aĀ largely blue-chip client baseĀ and has carried out installations in a number of prestigious sites including Buckingham Palace the Royal Household buildings, Natural History Museum, National Gallery and the Royal Albert Hall
DWEC Europe was formed in 2002Ā andĀ hasĀ customers in niche sectors such as pharmaceuticals, data centres and European wide media businesses.Ā The company has developedĀ a strongĀ international capability and regularly carries out projectsĀ across Europe.
Green Sky Energy receivedĀ a Ā£10 million equity injection from LDC in March this year to acquire Matrix Group. Matrix isĀ one ofĀ the UKās market leading sustainable energy services organisations, deploying unified energy services toĀ its blue chip client base, whichĀ includesĀ Tesco, Marks & Spencer, BAEĀ Systems and the BBC.
TheĀ acquisitions of DWEC and DWEC Europe were funded by a further equity investment fromĀ LDCĀ and wereĀ led byĀ LDC Investment DirectorsĀ Jonathan Bell and Jon Pickering.
TheĀ dealĀ brings the combined group turnover to over Ā£36 million andĀ strengthens itsĀ international offering as well asĀ its focusĀ in the key markets ofĀ London and the South East of England.
Jonathan BellĀ at LDCĀ said:Ā āLDC is committed to providingĀ high quality companiesĀ with the means to build scale organically and through acquisitions.Ā TheĀ deal represents an excellent strategic and geographicĀ fitĀ for Matrix, adding more bandwidth to the groupās services as well as proven technical skills.
āThis complementary acquisitionĀ also enables Green Sky to continue to meetĀ the growing demands ofĀ its customers, who are increasingly keen toĀ reduce their energy consumptionĀ as a result ofĀ the introduction in April of the new CRC Energy Efficiency Scheme, continued price volatility in the energy marketsĀ andĀ the growing importance of efficiency as part of theirĀ corporate social responsibility strategies.ā
Ian Kelly, Chief Executive, said: āThis acquisition and investmentĀ isĀ an exciting time for us all, allowing us to scale our already unique market position and continue our strategic partnering with leading UK brands that are looking for credible, national managed energy services providers.
āThe challenges of both rising energy costs and carbon reduction legislation across large property estates are really driving the market and itās key that we maintain and further develop our service capability for our clients in both reach and technical expertise, and DWEC enhances our client services significantly.ā
āSince the deal, weāve worked closely with LDC andĀ the additional funding will enable us to build a true market-leading presence in the energy management sector with unrivalled depth and breadth of capability and skills, both technical and operational.ā
Following the investment, the Operations Board will be further strengthened with the appointments of David Woodhams, Founder and Chairman of DWEC and Darren Chenery, Director of DWEC Europe, who have over 40 years combined industry experience. Both Dave and Darren have invested in Green Sky Energy alongside existing investors.
David Woodhams said: āWe are delighted to be a major part of the UK's market leader in building energy solutions. The merging of DWEC and Matrix has created a business capable of national energy service delivery to meet the demands of the new dynamic energy marketā
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