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Octopus Energy and Legal & General completed the £70m investment in The Kensa Group.

Financials

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Transaction Value£70m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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heat pumps

Machinery: Specialty

United Kingdom

Acquisition

Domestic

Minority

Private

Completed

Friendly

Single Bidder

Synopsis

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Octopus Energy, a British renewable energy group, and Legal & General, a British multinational financial services and asset management company, completed the £70m investment in The Kensa Group, a heating equipment supplier. “The heat pump revolution is off to a flying start: it’s a tried and tested replacement for gas boilers and can drive down consumers’ energy bills for good. Backing Kensa will help rapidly expand Britain’s fast-growing ground source heat pump economy. This is a huge milestone for our exciting new energy transition fund, as we invest in ambitious companies rolling out tech to turbocharge the clean energy shift,” Zoisa North-Bond, Octopus Energy CEO.

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