ABEC | Magnesium Capital | DCM
DunPort supports Magnesium Capital in its acquisition of ABEC
DunPort Capital Management is delighted to have provided debt facilities to support Magnesium Capital in their acquisition of ABEC.
ABEC provides Building and Energy Management System (BEMS), Electrical Power Monitoring System (EPMS) and industrial grade SCADA (Supervisory Control and Data Acquisition) and PLC (Programmable Logic Controller) solutions to some of the largest data centre developers and contractors in the world, and directly to some of the world’s leading hyperscalers.
The transaction will see ABEC partnering with Magnesium Capital, one of Europe’s leading investors in energy transition, to establish itself as a truly global player. ABEC’s Founder & CEO Matt Morrall will continue to lead the business alongside Chief Operating Officer Matt Litten and both have invested alongside Magnesium Capital as part of the transaction.
Established in 2004, ABEC has grown rapidly over the last decade and will achieve a turnover of over £43m for the 2024/25 financial year. ABEC, which employees 150 people in 11 countries across the globe, also has a substantial portfolio of BMS (Building Management System) maintenance clients comprising a range of commercial buildings and major data centres. The company’s BMS maintenance offering has also grown significantly in recent years as the systems are increasingly important in helping companies meet their ESG (Environmental, Social and Governance) targets. A BMS can manage somewhere between 60% and 80% of all power consumption in any given building, affording companies the opportunity to save power and reduce energy consumption.
The following advisors also worked on the deal:
- TLT: Legal advice (ABEC).
- Grant Thornton: Financial and tax due diligence (ABEC).
- Claritas Tax: Tax advice (ABEC).
- Walker Morris: Legal advice (Magnesium Capital).
- KPMG: Financial and tax due diligence (Magnesium Capital).
- EY Parthenon: Commercial due diligence (Magnesium Capital).
