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Yorkshire Bank backs acquisition of energy management firm BAS

Energy management company BAS has been acquired by Bridgepoint Development Capital with backing from Yorkshire Bank Corporate & Structured Finance in Manchester.

BAS, which is the largest independent player in the long term support and implementation of intelligent building energy management systems in the UK, was founded in 2006 following a buyout from Siemens.
Based in Altrincham and with offices in Birmingham, Gateshead, Leeds, Surrey, Glasgow and Chepstow, BAS specialises in supporting building owners to control, monitor and reduce energy usage via the efficient use of a building energy management system.
The management team at BAS, led by Brin Sheridan, has taken a stake while founders Steve Dalton and Bob Savage retain a shareholding in the company.
Sheridan says: “There is a clear opportunity for BAS to grow its core support and project work where we are already a significant player. In addition, BAS will increasingly become more involved in helping companies design and deliver their broad energy objectives as part of the larger energy management market, using our proprietary software to capture data and informing customers to take more operationally focused decisions about their energy policy.”
Yorkshire Bank Corporate & Structured Finance began its relationship with BAS in January 2009 when it provided a GBP5m package to assist with the company’s growth. The team was led by Peter Smith, director with Yorkshire Bank Corporate & Structured Finance in Manchester, and Qian Yang, associate.

Smith says: “BAS is a very successful business with a strong management team. The business has continued to grow since our initial investment and the outlook remains very positive given the expanding demand for energy monitoring and cost control. We are delighted to be in a position to extend our relationship at this time and also have the opportunity to work closely with Bridgepoint.”
Alan Payne, a partner at Bridgepoint Development Capital, adds: “Investing in BAS represents an opportunity to invest in the fast-growing market for energy management, backing a proven team at a time when market growth is being driven partly by new energy legislation but also by an increasing business awareness of energy efficiency.”

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