HV Energy Systems

We’re pleased to have advised on the sale of HV Energy Systems (HVES), a Bristol-based specialist independent connection provider, to global environmental consultancy RSK Group in a multimillion-pound deal.

Founded by engineers Craig Steven and Louis Wright, HVES is National Electricity Registration Scheme (NERS) accredited and delivers high-voltage grid connection infrastructure for renewable energy and energy storage projects across the UK. Its services include detailed design and engineering, procurement, project management, construction, installation, commissioning and energisation.

Our Corporate Finance team acted as the lead advisers to the shareholders of HVES on the sale. We worked with the shareholders and management to help prepare the business for sale, identify potential buyers, including RSK Group which was the shareholders preferred partner to take the business forward. We then led on the commercial negotiations, managing the process through to a successful completion.

Craig Steven and Louis Wright will continue to lead the business, which will be strengthened by its partnership with RSK.

For RSK, the acquisition reinforces its focus on end-to-end delivery across renewables, energy storage and wider infrastructure. It also strengthens the group’s integrated service offer, while retaining HVES’s delivery-led operating model.

Mark Naughton, Partner at FRP Corporate Finance, said: “It has been a pleasure to work with Craig, Louis and the management team. They have built a terrific business that has a strong reputation in their market and we are delighted to have helped them find and negotiate a transaction with RSK who are an ideal partner for the business.

We are witnessing strong interest from investors in the wider energy transmission and energy transition sectors at the moment from both UK and overseas corporates and private equity and expect to see a number of other transactions complete in the near future.”

Craig Steven, Managing Director and Co-founder and Louis Wright, Technical Director and co-founder of HVES, added: “We are excited to be joining RSK Group. This partnership will strengthen the service and support we deliver to clients, backed by increased scale and access to a wider network.

“We are very grateful to Mark, Kush and Tom at FRP Corporate Finance in supporting us to secure this deal. Their knowledge of the sector was crucial in identifying RSK Group as an ideal buyer to take us forward and their support throughout the process was invaluable.”

Osborne Clarke (legal, sell-side), Cortus Advisory (financial and tax due diligence), CIL (commercial diligence) and Fladgate (legal, buy-side) also acted as advisers on the deal.