March 08, 2022

Barings supports ECI’s acquisition of Zenergi

Barings, one of the world’s leading investment managers, today announced its role as sole lender on secured credit facilities backing ECI’s acquisition of Zenergi, a UK-based energy and sustainability services specialist offering energy procurement and energy management services targeting the education and public sector.

Founded in 2003, Zenergi has experienced continuous growth through helping its customers navigate an increasingly complex energy market. With its energy management offering, Zenergi also acts as a long-term energy partner for helping its customers achieve energy efficiencies as they work towards net zero targets.

With this acquisition, ECI will look to continue the growth of the business by bringing its offering to even more customers while helping organisations move towards a greener future.

Commenting on the deal, Matt Carty, Director in Barings’ European Private Finance Group, said: 
“We are delighted to have supported ECI’s acquisition of Zenergi. This transaction represents Barings’ third with ECI, so we have built a strong relationship and seen their strong track record of results first-hand. We look forward to working with them again now to support Zenergi’s continued growth.  What makes Zenergi unique is its sector expertise and high service levels in helping schools and other public sector organisations manage their energy requirements. This has led to excellent retention of its customer base and very high levels of recurring revenues.”

“It has been great working with Barings to complete this transaction and fantastic to have the opportunity to work with them again on another portfolio company. Zenergi is a leading player in the public sector energy procurement market and provides a strong platform for us to continue its buy-and-build strategy. Barings has provided flexible committed follow on financing to support the management team with these ambitions and we look forward to working with them to drive the company’s future success,” Toby Fitzherbert, Director at ECI added.

About Barings
Barings is a $391+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment.

*Assets under management as of December 31, 2021

Important Information

The document is for informational purposes only and is not an offer or solicitation for the purchase or sale of any financial instrument or service in any jurisdiction. The material herein was prepared without any consideration of the investment objectives, financial situation or particular needs of anyone who may receive it. This document is not, and must not be treated as, investment advice, an investment recommendation, investment research, or a recommendation about the suitability or appropriateness of any security, commodity, investment, or particular investment strategy, and must not be construed as a projection or prediction.

In making an investment decision, prospective investors must rely on their own examination of the merits and risks involved and before making any investment decision, it is recommended that prospective investors seek independent investment, legal, tax, accounting or other professional advice as appropriate.

Unless otherwise mentioned, the views contained in this document are those of Barings. These views are made in good faith in relation to the facts known at the time of preparation and are subject to change without notice. Individual portfolio management teams may hold different views than the views expressed herein and may make different investment decisions for different clients. Parts of this document may be based on information received from sources we believe to be reliable. Although every effort is taken to ensure that the information contained in this document is accurate, Barings makes no representation or warranty, express or implied, regarding the accuracy, completeness or adequacy of the information.

This document is issued in Australia by Barings Australia Pty Ltd.