UK growth investor BGF has backed one of the country’s leading home-focused sustainable energy system suppliers with £3.6m.
Ecovision provides heat pumps, solar panels, biomass and gas boilers in homes, businesses and community buildings across the UK, and has installed more than 5,000 systems since 2005.
The company said it expects to generate revenues of more than £20m in the next financial year.
BGF investment director Ned Dorbin said,“This is an opportunity to back a fantastic management team with considerable experience and success already in this sector.
“There are a number of opportunities in the household sustainable energy market for Ecovision to capitalise on and the team has worked hard to establish themselves in this market and build up their excellent reputation.
“Our capital, together with the debt facility from Shawbrook, will immediately be invested in the increased marketing of Ecovision’s Hassle Free Boiler offering so that it gains increased momentum and traction in the market.”
Last month BGF backed Kent-based packaging manufacturer Plastique with a £5m investment to help it expand its facilities.
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