The private equity arm of Fleming Family and Partners, FF&P Private Equity has supported the buy-in management buyout of FIT, the specialist energy efficiency business. The acquirer is Efficient Energy Management Group and the group intends to ride the increasing demand for energy efficient commercial kitchens.
FF&P Private Equity is the majority shareholder in Efficient Energy Management Group. The purchase of FIT for the business is essential to make the products competitive as the costs of energy has more than doubled in the last decade according to the EU Department of Energy and Climate Change.
FIT, since its inception in 2001, has designed and provided energy saving solutions for blue chip clients such as major supermarket chains, hotel and leisure operators in UK and Europe. One of the unique plans is the payback periods for FIT solutions, as the savings are monitored and measured for customers.
According to EEMG CEO Simon Jarman, "We are delighted to have acquired FIT and are very excited about its prospects. It is an excellent, established business operating in a growing sector with a proven product and strong customer relationships. There is substantial opportunity to expand the customer base, diversify the product range and develop international markets. I am very much looking forward to working with FF&P to fulfill the significant growth potential that exists."
Join the Conversation