Soho Square Capital, an investment firm focused on financing established and growing UK and European SMEs, is pleased to announce a growth investment in Live Manage Facilitate Limited, trading as LMF Energy Services ("LMF" or "the Company"), a leading national installer of renewable energy measures (heat pumps, solar panels, electric storage heaters, insulation) in properties across the UK.
Established in 2016, LMF has completed over 20,000 energy efficiency installations to date, supporting and bringing thousands of UK households out of fuel poverty. Installations are primarily in low-income households, with funding provided by energy suppliers mandated by Ofgem under the government's ECO4 scheme to make households more energy efficient. LMF also installs solar panels for private and commercial properties. Earlier this month, LMF was named National Solar PV Installer of the Year for the second consecutive year by the Energy Efficiency Association.
Working with Soho Square to utilise its expertise and support, as well as its capital, LMF will look to capitalise on its rapid growth to accelerate its expansion plans, with a focus on continuing to deliver under the new Government's incoming schemes as well as broadening its private solar installation, commercial and social housing business. Soho Square will also support LMF in further enhancing its operational structure and supporting its capable management team, led by Managing Director Chris Foran. Stephen Edwards from Soho Square will join the board of LMF.
Chris Foran, Managing Director of LMF, said:
"We have built a fantastic business that has delivered more than 20,000 energy efficient installations in homes across the UK, and we have taken thousands of UK households out of fuel poverty. We are very proud of our achievements to date and are ambitious to realise the full potential of LMF, so we are thrilled to be partnering with Soho Square. Their flexible approach to structuring investments, taking minority equity stakes, enables us to retain control of our business and benefit from an injection of capital and their considerable experience to accelerate our growth plans."
Joe Tebbutt, Principal at Soho Square Capital, commented:
"Chris and his team have quickly established LMF as one of the UK's leading energy efficiency improvement companies in a market with huge growth potential, underpinned by the sheer volume of homes in the UK with low EPC ratings and the government's commitment to make them more efficient. With its strong reputation with customers and national footprint making it an attractive supplier for larger projects, there is enormous scope to expand the business and we are excited to put our considerable experience in supporting SMEs to help LMF's continued growth."
Stephen Edwards, Co-Managing Partner at Soho Square Capital, added:
"We're thrilled to be backing LMF and their ambitious growth plans. We focus on designing investments to suit ambitious founders of UK and European businesses. Our bespoke financing has helped the founding team of LMF to stay in control of the business they've built, whilst securing both capital and support."
Soho Square's deal team was led by Stephen Edwards, Joe Tebbutt, Howard Chan and Mark Bourke. Soho Square was advised by Grant Thorton (both buyside corporate finance and tax due diligence), Hogan Lovells (legal), Baringa (commercial due diligence), and Sustainable Advantage (ESG due diligence). LMF was advised by Graph Strategy (commercial due diligence), EY (vendor corporate finance and tax due diligence) and O'Connors (legal).
About Soho Square Capital
Soho Square Capital is an investment firm focused on providing flexible capital solutions, typically in the form of senior or preferred capital with minority equity stakes, to established and growing UK and European SMEs. Headquartered in London, the firm is led by a highly experienced team that has been investing together for over 20 years, through many economic cycles and have the expertise and flexibility to invest up to £40 million in any given transaction, across the capital structure, from senior debt to equity. The team works closely with business owners and management teams to structure innovative, bespoke financing solutions and offer enhanced portfolio company support.
www.soho-sq.com
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Contacts:
If you would like to discuss future investment opportunities, please contact:
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jms@soho-sq.com
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Charlotte Balbirnie
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