learnd snaps up two leading BMS and energy solutions providers

learnd, a leading provider of energy management solutions to reduce energy costs and carbon emissions from non-residential buildings, has acquired leading building management systems (BMS) and energy solutions firms, Ashdown Controls Limited and BGES Group.

Ashdown Controls is one of the top three BMS and energy providers in the island of Ireland. Headquartered in Dublin, Ireland and Belfast, Northern Ireland, Ashdown Controls helps a wide range of customers reduce energy costs and carbon emissions.

Seamus McGlade, Owner of Ashdown Controls, said: “For over 35 years Ashdown Controls has been at the forefront of providing customers with BMS and energy solutions throughout the island of Ireland to help their buildings run more efficiently and effectively. Joining learnd will help us continue to grow our efforts by tapping into new resources and technology that can further increase our customers’ carbon and energy savings.”

BGES Group is a long established and well respected BMS and energy solutions provider within the UK. Headquartered in Sheffield, BGES Group provides BMS and energy management solutions to thousands of customers across the UK, greatly expanding the number of buildings available to implement learnd’s unique technology to help reduce energy and carbon emissions.

Gareth Barber, Majority Shareholder & Director of BGES Group, said: “The growing demand for energy and carbon reduction in the UK and beyond means there is an increased demand for effective BMS and energy management solutions. By joining learnd, BGES Group can increase our reach and resources to help meet that demand, better serve our customers, and expand our efforts throughout the UK and into Europe.”

Speaking about the acquisitions, John Clifford, learnd’s Co-founder and CEO, said: “Ashdown Controls marks our first acquisition in the European Union, and shows we’re committed to our mission of decarbonising the built environment by becoming the leading energy management provider in Europe. We are delighted to welcome them to learnd and look forward to working with them to achieve net-zero.

“The acquisition of BGES Group is a major milestone for learnd, as their addition to the group solidifies us as the number one BMS and energy solutions company in the UK. Their position and experience within the BMS and energy industry will propel learnd further towards our mission of becoming the largest and most relevant energy management company in Europe. We are delighted to welcome such a well-respected company in the industry into learnd.”

Accountancy practice, Price Bailey, advised learnd on the transaction.

Phil Sharpe, Corporate Finance Partner at Price Bailey, said: “It has been a pleasure working with the learnd team to help them complete the acquisition of Ashdown Controls. The acquisition increases their geographic footprint and enhances their existing sector expertise. Whilst there are many challenges in the deals and funding markets at present, learnd have demonstrated that the right funding can be obtained for good businesses and transactions.

“The deal was financed with a combination of equity and cash. The structure of the deal demonstrates the commitment of the Ashdown Control’s management to the long-term success of the group and frees up cash to fund further growth.”

Regarding the BGES Group acquisition he added: “We have been delighted to work with the learnd team on another transaction to acquire BGES group. We are seeing more interest from investors in the Net Zero space and learnd are a great example of a business who have identified commercial opportunities from helping improve the environment.”

This is the second acquisition this fiscal year for learnd, further driving its strategy of “selectively pursuing M&A opportunities and partnerships to decarbonise the built environment by becoming the largest energy management company in Europe”.

learnd went public on the Frankfurt Stock Exchange through a business combination in January 2023.