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The two UK companies are joining forces to consolidate and develop opportunities in the residential and commercial energy solutions market.
Stratford Energy Solutions, an established UK installer of solar PV, electric vehicle charging, and energy storage systems in residential and commercial markets, has merged with compatriot management consultancy Bannister Ventures to develop opportunities in the small and medium-sized business market segment through new partnerships and acquisitions.
Stratford Energy said it aims to acquire other UK-based specialist renewable energy services companies, such as those offering remote monitoring, energy management and cybersecurity services, as well as industrial solar specialists and finance providers. To enable that growth, the company raised £4m ($4.55 million) from Triple Point, a UK-based impact investment manager.
To date, the company has been active in the UKs Midlands region, serving primarily the residential segment. Now it is eyeing national commercial market penetration.
“Solar remains the fastest-growing renewable energy and will be increasingly popular with residential and commercial users alike. The current market is highly fragmented. We see the opportunity to create a national player offering a fully integrated solution to both residential customers and to SMEs and commercial users, to support them on the journey to net zero,” said Jonathan Watt of Bannister Ventures.
The strategy of using mergers and acquisitions to grow nationally and internationally is not uncommon in the residential energy segment. For example, both German solar company 1Komma5 and Norway-based solar specialist Otovo have used it to grow quickly. |
