Fife-based energy consultancy aims to dominate market following £22m sale

M&C is one of Europe's largest energy purchasers and advises business users on energy and environmental legislation. It employs 373 staff and turned over £22.7 million between 2008 and 2009. Private equity firm Lyceum Capital purchased the consultancy ahead of an aggressive acquisition strategy M&C is planning across Europe. The consultancy is projecting that by 2013 its annual turnover will rise to £60 million as more businesses look for support in managing their energy purchasing and environmental legislation rises higher up the business agenda.

Lyceum Capital said its purchase of M&C would provide the company with "the funding, operational input and strategic guidance" to help it grow.

“M&C is the leading energy consultancy, boasting an unrivalled reputation and service offering in an international market that is growing year on year," said Daniel Adler, partner at Lyceum Capital. "We’ll be working in partnership with management to develop M&C into a robust and sustainable business, with strong long-term growth prospects.”

M&C’s current ceo, Simon Northrop, will continue to lead the company after the deal. Commenting on the sale, he said, “Lyceum Capital has brought to the table expertise and funding which will see M&C dominate the energy consultancy market on a global stage. There is no question that with their backing, we’ll be a significantly bigger business in four years time.

"With an ambitious acquisition plan in place targeting companies in Europe and Australia, we will be able to offer our clients unrivalled scale and expertise. As environmental legislation rises higher up the business agenda, organisations will need our services to ensure they are operating to maximum efficiency and within the law.”

M&C said under its forthcoming growth strategy it will be targeting large national and international businesses with energy requirements exceeding £5 million. It will also focus on the environmental and risk management part of the business.