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ENERGY & UTILITIES | Natural Gas Utilities
hcsenergy.co.uk

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Stage

Acquired | Acquired

About HCS Energy

HCS Energy provides temporary heating and hot water solutions to commercial buildings in Scotland.

HCS Energy Headquarter Location

16 Wellington Road Unit 3

Glasgow, Scotland, G64 2SA,

United Kingdom

0141 611 2743

Latest HCS Energy News

Glasgow boiler specialist hits acquisition trail

Dec 30, 2015

0 comments GLASGOW-based boiler maintenance firm James Ramsay has bought a local rental specialist with backing from the Pirrie brothers’ Nevis Capital and said it has more deals in the pipeline. Ramsay acquired HCS Energy from its founder Jim Garrity. The price of the deal was not disclosed but is thought to have put a six figure valuation on HCS. The takeover will allow Ramsay to acquire a portfolio of boilers that it can supply to organisations that need heating and hot water on an emergency or temporary basis. Loading article content HCS’ customer base includes councils, schools and a range of businesses including care homes. Raymond Shepherd, managing director of James Ramsay, said: “We are delighted to acquire one of the leading specialist hire businesses in our sector. It complements the Ramsay business well and will allow us to provide a wider offering to both companies’ customer bases.” The acquisition is the first completed by Ramsay since Mr Shepherd led a buyout of the business with support from Nevis Capital in August 2013 . It reflects Nevis Capital’s interest in the industrial services sector, in which the private equity house believes firms can achieve rapid growth given factors such as the rise of out-sourcing. Nevis was founded by John and James Pirrie, who sold LCH Generators to Speedy Hire for £62m in 2006. Brian Aitken, a chartered accountant and founding partner at Nevis Capital, said: “We are pleased to have supported another bolt-on to our portfolio.” He noted Ramsay, which installs and maintains boilers across Scotland, has achieved strong growth since Nevis added the firm to its stable. Ramsay increased sales to £3.8 million in the year to March, from £2.5m in the preceding period. Share article Nevis has completed 18 deals. Its portfolio also includes Dieselec Thistle Generators and the Clyde Space satellite technology firm. Mr Aitken has said Nevis achieved a good return from the sale of Apex Generators to HSS Hire in 2014, five years after establishing the business through the takeover of Woodside Power. Promoted Stories

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