Private equity investor LDC has completed the sale of Inprova Group in two separate deals.
In December 2018, AIM-listed Inspired Energy acquired the Warrington-headquartered company’s energy division, with the existing management team buying the non-energy procurement business this month.
LDC first backed the business in March 2014 to help fuel its ambitious growth strategy. Over the past four years, the team has worked closely with chief executive Paul Kennedy and his team to transform it into a multi-disciplinary group.
This included a buy-and-build strategy that saw Inprova acquire five complementary energy businesses and launch a bespoke division, Inprova Energy, in 2015.
Over the same period, LDC helped the business to expand internationally and launch in the US, in addition to diversifying its offer from a sole focus on the public sector to both public and private sector work.