AgilityEco has been acquired by M Group Services
Arrowpoint Advisory has advised the shareholders of AgilityEco – including Bridges Evergreen Holdings, the original founders and the current management team – on the sale of the company to M Group Services.
AgilityEco is a home decarbonisation delivery platform with a strong social and environmental purpose. It provides whole-of-house energy efficiency solutions to some of the most vulnerable low-income households in the UK, offering independent advice, nationwide installation capabilities, reliable delivery and quality outcomes. To achieve this, AgilityEco partners with energy companies, local authorities, social housing providers, private social enterprises, utility companies and a broad network of dedicated installers.
AgilityEco was founded in 2013 with Bridges Evergreen Holdings acquiring a significant minority stake in 2019. Since then, AgilityEco’s revenues have grown in lockstep with its social and environmental impact outcomes. Turnover has increased more than threefold to well over £100m and the number of employees has doubled. AgilityEco worked with over 36,000 households in 2022/23, delivering energy efficiency measures that will save over £2,600 for each home on their lifetime energy bills. Those measures will also save over 113,000 tonnes of CO2 emissions.
After a highly successful partnership, the sale to M Group delivers a money multiple return of 3.4x and an IRR of 40% on Bridges Evergreen’s original investment.
Tom Biddle, Partner at Bridges and Head of Bridges Evergreen, said: “This transaction is a significant milestone for Evergreen and our investors. We are very proud to have been shareholders in the business and to have supported Sharon and the team to deliver such phenomenal growth. We wish the business, its team and its new owner every success in the future.”
“The Arrowpoint Advisory team, led by Stuart and Joe, were key to unlocking such a successful outcome for AgilityEco’s shareholders. Their deep sector expertise and hands-on, senior-led advice helped to easily navigate transaction complexities and ensure a smooth sale process from start to finish.”
Sharon Johnson, CEO of AgilityEco, commented: “Being part of M Group Services provides access to complementary capabilities and enhances our ability to provide a differentiated offering for our clients and partners. This strengthens our platform for growth, and as a purpose-driven organisation, it ultimately enables us to support more vulnerable families living in fuel poverty and to prepare Britain’s homes for Net Zero.”
Joe Austin, Director at Arrowpoint Advisory, highlighted: “This transaction marks another important milestone for our dedicated Energy Transition & Sustainability practice and bolsters our strong track record in the space. We were delighted to support Tom, Sharon and the AgilityEco team on the transaction and are excited to see what the future holds for AgilityEco as the UK accelerates towards Net Zero.”
Stuart Vincent, Managing Director at Arrowpoint Advisory, concluded: “The combination of AgilityEco and M Group represents a formidable combination and will have a real impact on decarbonising homes in the UK. We’re very proud of our work with AgilityEco and the outcome we delivered for its shareholders.”