- Project Better Energy is the sixth investment from Freshstream’s first independent fund
- Project Better Energy’s shareholders will reinvest in the company
- Freshstream is a mid-market private equity firm
Freshstream has acquired a strategic stake in Project Better Energy, a solar and renewable energy service provider, from its shareholders.
Project Better Energy’s shareholders will reinvest in the company.
Burton-upon-Trent, UK-based Project Better Energy employs around 300 people and generates around £100 million ($122 million; €115 million) worth of sales on an annual basis. It has 40,000 solar energy systems sold and installed through its Project Solar UK division.
“Following a series of legislative and policy commitments by governments in recent months and years to mitigate the impact of global climate change, there has never been a more important time to invest in solutions aimed at expanding clean power availability and energy efficiency,” said Gilles Gradassi, Freshstream’s director. “…the investment in the business demonstrates our commitment to supporting innovative, entrepreneurial companies solving complex issues, including the decarbonisation of the economy.”
Project Better Energy’s CEO Simon Peat will continue lead the company.
Freshstream will support Project Better’s accelerated phase of growth, expanding the product range and customer footprint, according to a release.
Project Better Energy is the sixth investment from Freshstream’s first independent fund, which closed earlier this year having raised €762 million.
Project Better Energy follows Freshstream’s investments in MCR, DeterTech, Bella Figura Music, Big Motoring World, and Nafinco.
Freshstream is a mid-market private equity firm with offices in London and Amsterdam.