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Rcapital acquires insulation and solar panel installation business Avonside Energy

Private investor Rcapital, has completed the acquisition of Avonside Energy Limited, an insulation and solar PV service provider for house builders across the UK. 

Avonside Energy is a standalone division of the Avonside Group that entered insolvency proceedings earlier this week. The transaction incorporates the Avonside Renewables business which has also been rescued by Rcapital as part of the deal. The acquisition has been a solvent deal and Avonside Energy is not part of the wider group insolvency.

Headquartered in Leicester, Avonside Energy has a strong national presence with operations in the West Midlands, East Midlands, Glasgow, Leeds, Newcastle, Warrington and Stevenage. This transaction will ensure the preservation of over 100 jobs across the country. 

Avonside Energy will generate revenue of over £15 million this year and is profitable and cash generative. It employs over 100 skilled workers and is a key part of the new build supply chain, with major customers including Barratt Homes, Taylor Wimpey, Persimmon Homes, Redrow and Miller Homes. 

Rcapital is an experienced investor in the construction services sector, having previously owned Rock Roofing Contractors, Alsop Architects and Plowman Craven. This is Rcapital’s second construction services acquisition in the last two months. Rcapital has appointed experienced operator Nick Alexander as Chairman to further strengthen the management team.  

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