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New Deal


Announced

Completed

Legal & General completed the acquisition of a 36% stake in The Kensa Group.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For36%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

heat pumps

Single Bidder

Machinery: Specialty

Friendly

Minority

Completed

United Kingdom

Acquisition

Domestic

Private Equity

Synopsis

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Legal & General, a multinational financial services company, completed the acquisition of a 36% stake in The Kensa Group, one of the UK’s largest players in the ground source heat pump technology sector. Financial terms were not disclosed. "This significant investment will allow the Kensa Group to strengthen its market-leading position by accelerating Kensa Heat Pumps' research and development programme, expanding Kensa Contracting's district heating shared ground loop array activities, and providing zero-cost ground arrays via innovative funding programmes through Kensa Utilities. The investment also provides the opportunity to install our systems at scale at sites being developed by Legal & General's property business portfolio, contributing towards the UK's ambitious 2050 net zero carbon target," Simon Lomax, Kensa Group CEO.

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