Sale of low-carbon energy specialist to market-leading sustainability consultants

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Element Energy, a specialist energy consultancy that works with organisations to implement integrated low-carbon technology solutions, has been sold to the world’s largest pure-play sustainability advisory firm, ERM. PEM Corporate Finance advised the vendors on all aspects of the disposal process.

Established in 2003, Cambridge-headquartered Element Energy has developed extensive experience across the built environment, transport and mobility, energy and wider industrial sectors. For ERM, the acquisition brings Element’s deep expertise in the development, commercialisation and implementation of emerging low-carbon technologies, such as hydrogen and fuel cells, electrification, energy storage and carbon capture use and storage (CCUS).

The deal adds approximately 90 Element employees, based in the UK, France and Australia, to ERM’s +5,500-strong firm. Ben Madden, who co-founded Element Energy with Shane Slater, will form part of the leadership team, along with Celine Cluzel, Ian Walker, Alex Stewart, Lisa Ruf, Sam Foster, Mike Dolman and Mark Hughes.

Keryn James, CEO, ERM said: “As companies look to deliver on their net zero commitments, low-carbon technologies will play a critical role in accelerating the clean energy transformation. With this latest acquisition, we are further strengthening our leadership in this rapidly expanding sector. This puts us in a unique position to help our clients unlock the huge potential of current and disruptive low-carbon technologies, and to support them at all phases of their decarbonization journeys. We are thrilled to welcome Element Energy to the ERM Group.”

Ben Madden at Element Energy said: “We are delighted to be joining ERM. We are very much looking forward to deepening our relationship with the ERM Group over the coming months, following numerous successful collaborations pre-acquisition. We are confident that the alignment in values between our organisations means that we will have a successful future serving the needs of our clients and bringing about the change required to achieve the global energy transition. In additional, I would like to thank PEM and BDB Pitmans for their professional advice.”

PEM were appointed by the vendors to provide corporate finance and tax advice on this transaction. Jan Fachot, Business Tax Partner at PEM Corporate Finance said: “We are proud to have advised Element Energy on their sale process and wish the leadership team the very best as part of the ERM Group. This was very much a team effort by my PEM colleagues with various departments contributing, with a special mention to Matthew Eady, Lake Falconer, Ned Brown, Angus Wood, Ben Edwards, and Helen Stock."

Lake Falconer, Partner at PEM Corporate Finance added, “We’ve known Ben and Shane for several years and were pleased to advise their management buyout (MBO) in 2016. Element is a successful and well-regarded consulting company and so this deal adds a strong market proposition to the ERM portfolio. We wish the Element team and ERM every success for the future.”

Legal advice to the vendors was given by Duncan Walker and Ross Fletcher of BDB Pitmans LLP


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