Haysmacintyre advises Earnz on double acquisition

Haysmacintyre’s Transaction Advisory Services team has supported Earnz plc on the successful acquisitions of Cosgrove and Drew Ltd and South West Heating Services Ltd and its readmission to AIM on 29 August.

Earnz plc, an energy services company with a laser focus on global decarbonisation, completed the double acquisition valued at £3.1m and a further £2.05m fundraise following the admission and re-admission of new and existing ordinary shares.

Bob Holt, executive chairman of Earnz plc, said: “We are delighted to announce the proposed acquisitions of Cosgrove and Drew and South West Heating Services. These two businesses are well aligned to the Group’s strategy to build a leading energy services business in a high growth market that is aligned to the UK Government’s decarbonisation agenda.”

Elizabeth Lake, chief financial officer at Earns plc, said: “The haysmacintyre team demonstrated exceptional professionalism and support throughout our RTO process. Despite a tight timeline, which included significant changes along the way, they delivered high quality diligence and advice. Their expertise and dedication were evident, making them a pleasure to work with, and they interacted exceptionally well with all the other parties.”

Laura Mott, partner at haysmacintyre, added: “It was fantastic to advise Earnz plc on their dual acquisitions, being reverse takeovers. These transactions are key in Earnz plc’s future strategic growth plans.  We were delighted to advise them during this chapter and also support them in their onward growth journey.”