RWK Goodman advise on sale of Powerful Allies to Zenergi
Law firm RWK Goodman has acted for the shareholders of leading renewable energy contract provider Powerful Allies on its sale to ECI Partners portfolio company and energy and sustainability services provider, Zenergi.
Powerful Allies was founded 10 years ago by James Robson who wanted to “make things better” and be a truly trusted partner for clients needing energy supply support. It currently supports customers including over 130 leading independent schools and 170 single and multi-site Academies across the UK, providing energy cost and carbon emission reduction strategies, energy consumption monitoring and reporting, and LED and Solar PV solutions.
Zenergi is an energy and sustainability services provider founded in 2003 to support organisations across the UK with their energy renewals, legislation and carbon reporting, identifying ways they can reduce their energy use, and leading energy efficiency and renewable projects.
The acquisition is Zenergi’s second following ECI’s investment in the business in February 2022, having acquired DB Group in March.
Graham Cooke, chief executive of Zenergi, said: "As we all move to a greener future, Powerful Allies is a natural fit for the Zenergi offering – the firm's ethos, focus on renewables and clear strength in customer service match our core values as an organisation. We are all looking forward to welcoming James and the team and seeing what we can achieve together."
James Robson, Powerful Allies added: "I founded Powerful Allies ten years ago to give customers more transparency, clarity and honesty around their energy contracts. I am delighted that as part of Zenergi we will be able to reach more customers and support the movement towards a greener future. I look forward to working with Graham and the Zenergi team to deliver on that ambition."
Richard Chapman, partner at ECI, said: "We're delighted to have further supported Zenergi's growth with a second acquisition in 2022, marking the firm's seventh M&A transaction since 2018.
"Powerful Allies is a fantastic partner to support Zenergi's clients navigate their complex energy needs in a sustainable way and we’re excited for the future of the combined group."
The RWK Goodman was led by Corporate partner James Worrall and included Janetta White, Yasmine Qasim (Corporate), Tim Gofton (Employment) and Layla Hardin (Real Estate).
Paul Morris and Mark Richdon from Bishop Fleming provided tax advice to the shareholders, and Paul Kelly and Paul Slight from Fusion Corporate Partners provided corporate finance advice. Zenergi were advised by Addleshaw Goddard (legal) and RSM (tax).
RWK Goodman’s James Worrall said: “It’s been a pleasure working with James and the team at Powerful Allies over the last few years and we are delighted to have been able to advise on the transaction which sees Powerful Allies join the Zenergi group where it will no doubt continue to go from strength to strength.”