Cap10, a pan-European, mid-market private equity firm based in London, has made its first acquisition, acquiring 100% of Sureserve Group, a compliance and energy services business, in a take private deal that values the company at £214m.
Sureserve, an energy and compliance services provider to the social housing sector in the United Kingdom, specialises in the provision of inspection, compliance, maintenance, and installation services in the areas of heating, insulation, and renewable energy. Cap10 says Sureserve is set to play a key role in reducing fuel poverty and achieving UK’s Net Zero targets, supporting the energy transition journey of social housing landlords and public sector bodies.
Sureserve reported a 23% increase in revenues and a 41% increase in EBITA for the six months ended 31 March, 2023, compared to the equivalent period in the prior year.
