Tuesday, April 23, 2024

Renewables company makes eleventh strategic acquisition

Cleantech business Green Building Renewables has expanded its nationwide network into Nottinghamshire and Lincolnshire with its eleventh acquisition.   

Newark-based JL Phillips Renewable Energy Limited increases the company’s turnover to £42 million as it remains on track to reach its £100 million turnover target by the end of 2025.

Since 2021, Green Building Renewables has increased its turnover more than tenfold from £3m to over £40m. Its rapid growth reflects the increasing demand for renewable technology in domestic and commercial settings.

JL Philips’ acquisition allows Green Building Renewables to expand further into Nottinghamshire and Lincolnshire. The company already has an existing office in Nottingham. 

Green Building Renewables’ continued strategic vision is to extend the benefits of solar energy and low carbon heating to as many local communities as possible by investing into existing local reputable renewable installation companies. 

Managing Director of Green Building Renewables, Chris Delaney, said: “We’re delighted to welcome Jason and his team to ours. JL Phillips is our eleventh acquisition and it demonstrates our commitment to continually investing in renewables and low carbon technology across the country as we aim to build the largest renewable installation company in the UK.” 

Jason Phillips, Managing Director of JL Phillips, added: “Our team is excited about joining Green Building Renewables’ nationwide network of renewable energy experts. The model that Chris and his team are building to offer local installers across the country is important. It ensures that customers get the best local service they can from installers who know their area and understand their needs.” 

The investment into JL Phillips will increase jobs by 25% in the region and is part of a wider strategy to recruit and train the renewable workforce of the future. There remains a skills shortage in the UK when it comes to qualified solar panel installers and heat pump engineers.

In the last two years, Green Building Renewables has grown from one office in York to 15 regional offices across England. By the end of 2024 the company aims to have full coverage of England. 

Staff numbers have increased sixfold in the last two years and the aim this year is to increase staff numbers by a further 60%. The SME has recruited 19 staff already in 2024 and currently has 20 vacancies across the business.  

Chris Joubert, Merger and Acquisition Director at Green Building renewables, added: “JL Phillips is the second acquisition of the year for the company and it’s only March. We are in active conversations with other companies, and we are confident that by the end of the year we will have complete coverage of England through our nationwide local network. This will ensure everyone in the country will be able to access our trusted and highly rated services.”

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