YFM Equity Partners (YFM) announces the completion of a substantial investment into the future growth and innovation of Think Hire, Think Energy Group’s relocatable renewable power business, on behalf of its Buyout Fund II.
Established in 2018 and introducing its product set to market in early 2020, Think Hire was created to enable infrastructure players to meet their net-zero targets in the face of the mounting climate crisis.
The business’ focus on developing, manufacturing and distributing environmentally friendly solutions is enabling the UK’s infrastructure industry to fulfil the critical role it has to play in reducing the country’s CO2 emissions.
Think Hire offers lower carbon and lower cost substitutes to traditional diesel generators. The product range provides innovative solutions to tier one contractors looking for hybrid power generation for the construction of some of the UK’s major infrastructure projects.
Designing many of its eco-friendly products in-house, Think Hire delivers leading and cutting-edge technology. One example of its pioneering products is Solartainer Versatile, an off-grid solar power supply unit, which offers the economic benefit of less energy usage, a substantial reduction in carbon emissions as well as the reduction of noise pollution.
Neil Richardson joined Think Hire as Managing Director in 2019 and has doubled the business’ revenues year-on-year. There are currently 20 people in the business with plans to grow this nationally over the next few years.
YFM’s investment will enable Think Hire to undertake the next stage of its development by significantly growing its asset hire fleet, extending its distribution network across the UK, and ramping up investment in developing new products and services to help clients meet their net zero goals.
The YFM team included: Dan Freed, Aaron Lowery and Ian Waterfield.
Dan Freed, Partner at YFM Equity Partners, said: “What makes Think Energy Group such a compelling investment opportunity is that it is aligned technically and strategically to the UK infrastructure sector, which has strong tailwinds underpinned by record levels of government commitment to future investment. This, coupled with their innovative and sustainable product offering making Think Energy Group a differentiated green power specialist, is why we are so excited about this investment.”
Neil Richardson, Managing Director of Think Hire, said: “Our company’s mission is to provide innovative, cutting-edge products, to meet the UK infrastructure sector’s demand for cleaner, greener, and more cost-effective off-grid power generation. The net-zero commitments being put in place across the infrastructure industry means there is a demand for an alternative solution to traditional diesel generators, and we are proud of the part we are playing in supporting this transformational ESG agenda. We have an offering which not only helps our clients in pursuing their net-zero goals, but also offers an economic cost benefit. YFM’s investment will allow us to unlock the business’ full potential.”
Advisers on the deal included: FRP Corporate Finance (Corporate Finance and Debt Advisory – Heath Snyder, Andy Pickford and Alex Starling), Hill Dickinson (Legal) Graph (CDD), Cowgills (FDD), Alexander & Co (Tax), Rowan Group (Management), Lockton (Insurance) and David Gallimore (Technical). The Sellers were advised by Lockett Loveday McMahon.
- Think Energy Group develops, manufactures and distributes relocatable, renewable power solutions to clients across the infrastructure and construction sectors, principally through its subsidiary, Think Hire
- Its products, such as the Solartainer Versatile hybrid generator, offer clients cheaper and more environmentally friendly energy to enable them to operate sites more sustainably
- Think Energy Group’s ambition is to become the provider of choice for environmentally-friendly infrastructure site energy management
- YFM’s investment will be used to grow Think Hire’s asset hire fleet, its national presence and bolstering its senior team