Calash is pleased to announce that it provided commercial due diligence to private equity investor LDC on its investment into Boston Energy, a technical services provider to the wind energy industry.
The Beverley, East Yorkshire, headquartered company trains and provides skilled technicians to the onshore and offshore wind industry, supporting the construction, operation and maintenance of windfarms across Europe, North America and APAC.
Calash provided commercial due diligence on behalf of LDC, which included a review of Boston Energy’s business activities, underlying market drivers and potential factors which could impact the company in the future, the project pipeline and the estimated service demand from existing and target markets, a review of key customers and the contracts in place, potential changes in client spending trends which may impact the supply chain, as well as a customer referencing and competitive benchmarking exercise.
LDC’s investment will enable Boston Energy to take advantage of opportunities to grow in all of its core markets globally to support the transition to a clean energy economy. LDC is backing Boston Energy’s CEO Julian Cattermole in a management buyout from the wider group of Bostonair companies. Mark Parkes, who founded Bostonair Group in 1997, will remain involved in the business as a major shareholder and Non-Executive Director.
The Calash team included Rob Neves, Callum Evett, and Iain Gallow.
“Boston Energy is a high-quality service provider in a sector that will play an essential role in the global transition towards net zero. The business’ success is also a great example of a homegrown company with international reach that is raising the profile of the Humber as a global renewable energy hotspot. We’re looking forward to supporting Julian, Mark and the rest of the team as they continue to drive the business forward in the years ahead.”
Dan Smith, Partner, Head of Yorkshire, LDC
Read the full press release Here
Boston Energy employs and trains specialist technicians to support the build and maintenance programmes of onshore and offshore wind farms across the globe. Boston Energy’s client base includes the world’s biggest OEMs and wind farm operators. It was recently awarded a significant new contract to support the Dogger Bank Wind Farm in the North Sea, the world’s largest offshore wind farm.
Part of Lloyds Banking Group, LDC’s approach to private equity partnership is about helping management teams to grow their businesses. Since 1981, LDC has amassed a wealth of experience across almost all sectors of the UK economy, helping more than 675 management teams to achieve their objectives through good times and bad.
