Palatine-backed B2W Group, the leading national skills and training group, has branched out into green skills with its latest strategic acquisition.
A deal for Greendale Ltd, which trades as ECTA Training, a company specialising in smart meters, electricals, renewables such as heat pumps and solar panel installation training, is the third since Palatine’s Impact Fund invested in B2W in October 2020.
Founded in 2005, ECTA trains over 1,300 people every year. Demand for environmentally friendly technology such as heat pumps and solar panels is expected to grow significantly in the coming years as businesses and consumers embrace the challenge of moving to net zero emissions.
By being part of B2W Group, ECTA will be able to draw on a large pool of shared services such as finance, IT, HR and marketing, enabling it to focus on growth. Current owners David and Kerry-Anne Berry have exited the business following the transaction.
Luke Muscat, CEO of B2W Group said: “A move into the low carbon energy training space is highly strategic as we expect market demand to expand dramatically.
“We remain focused on acquiring niche sector specialist providers such as ECTA and using our platform to support their future growth.”
James Painter, Senior Investment Director at Palatine added: “ECTA represents the third acquisition since our original investment in B2W Group and we see it as a strong strategic fit given the focus on green skills. The sector is still highly fragmented and we are keen to support the group in acquiring more high quality training providers in the future.”
Financial terms are undisclosed. The acquisition was funded by Virgin Money, B2W Group’s banking partner. Advisers on the transaction included Browne Jacobson (Ryan Brown) and Cowgills (Andrew Nelson).
