BDO advised on the merger of Bathgate-based energy services firm, Everwarm, and construction and support services group Lakehouse. Everwarm employs 250 staff in two offices with a turnover of £46m whilst Lakehouse employs 950 staff across 14 offices generating sales of £190.6m. Everwarm is the largest energy efficiency company in Scotland supplying insulation, heating and renewable measures to social, local authority and private housing stock, employing 250 staff in two offices. The business partners with the Big 6 utilities to source funding under government programmes such as the Energy Company Obligation (ECO) and has grown rapidly since being founded in 2010. Lakehouse Group is a privately owned social housing maintenance and construction company that has itself grown rapidly both organically and through a series of acquisitions.
"The commercial approach of the BDO advisory team was a real asset during the sale process. BDO provided a full service offering including corporate finance advice, taxation services and buyer due diligence. Input from sector specialists also helped us to manage buyer expectations during the process on the impact of regulatory changes. The end result was the best solution for shareholders and a great new home for the business within the enlarged group. We look forward to working with the team again in the future".
Michael McMahon, Managing Director, Everwarm Ltd