Cowgills advises on sale of Aberla Energy protecting jobs
19th July 2022, 2:18 pm
Cowgills Business Recovery team has advised on the sale of Aberla Energy Ltd and the business and assets of Aberla Utilities Ltd to Svella Plc, safeguarding 19 jobs in Warrington.
Aberla Energy specialises in delivering renewable technologies and integrated energy generation solutions – including solar PV, smart grids and electric vehicle charging infrastructure.
Both businesses trade out of premises in Warrington and have historically been market leaders in the provision of energy and utilities. However, as a result of significant changes to this sector the Board of Directors engaged Cowgills Business Recovery team to review and advise them on the options available to safeguard the business.
Cowgills Jason Elliott who acted as Joint Administrator commented: “The Aberla Group has had a very difficult period which has seen an unprecedented drop in revenue. As a result we were appointed to advise the Board of directors which has resulted in the sale of Energy in its entirety and the business and assets of Utilities via an Administration process.
“We would like to extend our gratitude to Svella Plc for working with us to achieve this result and most importantly the future of 19 members of staff across both businesses. We wish everyone connected with both companies every success in the future.”
Investment and acquisition vehicle Svella Plc purchased two Aberla Group business operations from the administrators, in a move which not only safeguards the jobs but also strengthens its current portfolio companies with the addition of synergistic capabilities and new customers.
Svella Plc has acquired the entire Aberla Energy business which will continue as a standalone trading entity under its Svella Infrastructure division. Meanwhile Svella Plc has also acquired the rights to and interest in fibre network infrastructure business Aberla Utilities, including title in contracts with two new customers.
Lee Marks, Director at Svella Plc, said: “We are delighted to have safeguarded 19 skilled roles in sectors with significant growth potential and we welcome Aberla employees to the Svella family.
“The rising cost of fuel, global focus on decarbonising transport and the expansion of electric vehicle infrastructure across the UK means the acquisition of Aberla Energy is of strategic significance to Svella Plc. Its service proposition is complementary to Svella Connect and allows us to leverage our digital infrastructure expertise to target growth in the fast-developing electric vehicle charging market.”
Pareto Financial Planning hails Advisor Academy