Alternative finance provider to mid-sized SMEs, ThinCats has teamed up with Bestport Private Equity, to provide debt and equity funding support of £19 million to help support the continued growth of Berkshire-based Energy Saving Lighting (ESL).
David Hall, previously CEO of Polypipe and non-executive Chairman of Aspen Pumps, will join the board as Chairman.
Founded in 2008 at the beginning of the new emerging LED market, Energy Saving Lighting have been the leaders in lighting consultancy, installation and energy efficient solutions.
Being one of the first lighting consultancy companys to offer LED lighting solutions complete with finance packages across all sectors including commercial, domestic, public sector and social enterprise across the UK.
Traditional lighting is very expensive and has a huge impact not only financially but environmentally. ESL helps its clients make savings on their lighting and carbon footprint.
For over a decade it has helped organisations light their buildings more efficiently, save considerable amounts of CO2 emissions and millions of pounds on their electricity bills.
Paul Daly, Founder and CEO of ESL, says: “We are delighted to partner with Bestport and recognise that they will bring expertise and funding to help deliver the next phase of growth for the business. It is an exciting time to be delivering energy efficient solutions to both the public and private sectors.”
James Stoddart, Managing Partner of Bestport, says: “We are excited to be partnering with Paul on the next stage of the company’s journey. ESL is an ambitious, fast growing business delivering energy saving benefits to the critical economy. We also see a big opportunity to build on the company’s success in delivering more energy efficient solutions to the commercial sector.”
Dave Sherrington, Head of Regional Sales at ThinCats, says: “ESL was one of the first lighting consultancy companies in the UK to offer LED lighting solutions, and is at the forefront of energy efficiency. The team are demonstrating an impressive commitment to supporting the UK government in meeting decarbonisation targets, and we are delighted to have supported them with this funding package alongside Bestport.”
As the cost of energy is set to rise this winter, taking a second look at their energy bills should be a business priority.
LED lighting has a number of advantages when compared to traditional halogen and fluorescent commercial lighting, including improved energy and maintenance efficiencies as well as a better-quality light, the ability to dim lighting, eliminate warm-up times and the capability of frequent switching. Lighting in heavy industrial areas regularly has to withstand harsh environmental conditions, needing regular maintenance which is difficult and inconvenient.
Industrial warehousing in commodity or large commercial business are often open for long hours, if not 24/7, loading and unloading. The lighting in a warehouse has to be efficient enough to minimise hazards in the workplace as well as comply with the recommended LUX levels.
The company has undertaken some impressive work, including saving the Bank of England more than £44,0000 annually.
It also helped Maiden Erlegh Chiltern Edge save more than £18,000. Maiden Erlegh is a secondary school based in Reading. The school caters for students aged 11 to 16. In August 2018, Chiltern Edge converted to an academy and was renamed Maiden Erlegh Chiltern Edge. The school is now sponsored by the Maiden Erlegh Trust.
Lighting accounts for nearly five per cent of global CO2 emissions – a global switch to energy efficient LEDs could save more than 1.4 billion tons of CO2 from being emitted into our atmosphere and avoid the construction of 1250 power stations. On average, just 1 LED bulb will minimise greenhouse gas emissions by almost half a ton. Replacing outdated fluorescent lighting to modern LED options can provide as much as 85% energy savings. Did you know that most of the energy that goes into lighting an incandescent lamp is actually spent on heating the filament? Outdated lighting can account for up to 95% of your lighting costs on heating a bulb and only 5% lighting it! An LED lamp, on the other hand, loses around 5% of the energy generated to heat, whilst 95% is converted to light.
ESL says that its Energy Saving lighting typically save its clients up to 80 per cent on their annual electricity bills.