Kendra Energy Solutions has transitioned to an employee ownership trust (EOT) in a deal backed by specialist lender Shawbrook.
Founded in 1999, Kendra is an energy management systems business, providing services to a blue-chip client base across the UK.
The firm has 180 employees, including 100 engineers, and designs, installs, and maintains Building Energy Management Systems (BEMS) that control facilities’ electrical and mechanical equipment.
As part of the EOT, co-owners Gary Ford and Chris Mills will continue managing the business alongside the senior management team.
Ford said: “At Kendra, we have long prided ourselves on our employee-first model and therefore, when the time came to plan for a future exit for myself and Chris, pursuing an EOT was the obvious strategy.
“Shawbrook has a proven track record of completing and funding these types of deals and were an obvious choice for us.
“It was a pleasure to work with the team and we look forward to watching Kendra continue to thrive under the new business model.”
John Palmer, senior director at Shawbrook, said: “Kendra is a strong business and a true leader in its field, it was a pleasure to work with them on this transaction.
“At Shawbrook, we continue to champion businesses taking the EOT route and pride ourselves on our experience in supporting with the complexities involved in these transitions.”
