Bestport and ThinCats have provided debt and equity funding of GBP19 million to help support continued growth of Energy Saving Lighting (ESL).
David Hall, previously CEO of Polypipe and non-executive Chairman of Aspen Pumps, will join the board as Chairman.
Paul Daly, Founder and CEO of ESL, says: “We are delighted to partner with Bestport and recognise that they will bring expertise and funding to help deliver the next phase of growth for the business. It is an exciting time to be delivering energy efficient solutions to both the public and private sectors.”
James Stoddart, Managing Partner of Bestport, says: “We are excited to be partnering with Paul on the next stage of the company’s journey. ESL is an ambitious, fast growing business delivering energy saving benefits to the critical economy. We also see a big opportunity to build on the company’s success in delivering more energy efficient solutions to the commercial sector.”
Bestport was advised by Stephenson Harwood (legal), Spectrum Corporate Finance (debt), Wilson Partners (financial & tax), GRAPH Strategy (commercial), and Catalysis Advisory (management).
