Lyceum Capital-backed M&C Energy Group (M&C), the global energy consultancy, has expanded its US footprint and strengthened its market position with the acquisition of fellow energy consultancy Coleman Hines, headquartered in Phoenix, Arizona.
The mid-market growth investor acquired M&C for £22 million in 2010 and, since then, has implemented a rigorous programme of operational enhancement and supported a number of strategic acquisitions.
The deal follows M&C opening its first US office in Atlanta, Georgia and will further help the company to expand in North America.
Coleman Hines, founded in 2000, provides energy consultancy services to a number of national Fortune 500 clients, particularly in the retail, restaurant, and commercial sectors, at nearly 35,000 sites covering all US states and Canada.
The business will become part of M&C’s growing worldwide organisation which already has 18 offices in 13 countries and clients in 40 countries.
Dan Adler (pictured), Partner at Lyceum and M&C board member, says: “Coleman Hines is a well-established energy advisory firm of scale with an outstanding client retention rate and a highly progressive management team.
“The company’s services are closely aligned to those of M&C and so it presents the ideal platform for the wider Group to develop its North American proposition and gain market share in the country’s growing energy consultancy sector, which remains highly fragmented.
“The US is a key market for M&C’s services and, with a number of significant contracts already in the pipeline for the enlarged business, there is a compelling case for the firm’s North American expansion.”
Mark Dickinson, CEO M&C Energy Group, says: “Bringing M&C Energy Group and Coleman Hines together now creates an exciting prospect within the energy consultancy sector in North America.
“Not only will it expand our reach in North America, but Coleman Hines provides M&C with a number of exciting products and services specifically developed for the local markets, which will strengthen our portfolio of services.
“While M&C is a well-known industry-leader around the world, the North American market is relatively new to us and bringing Coleman Hines on board will strengthen our foothold and market position there.”
Gina Coleman, founder of Coleman Hines, says: “The entire Coleman Hines’ team is excited to be embarking on the journey to achieve new heights in client service. We see this as a great opportunity to expand services and offer additional expertise benefiting our clients’ energy programmes.”
