HMT LLP, led by partner Paul Read and director Holly Bedford-Bell, has undertaken due diligence for private equity firm Percipient Capital on its investment in British Energy Saving Technology (BEST).
Based in Cornwall, BEST designs and manufactures energy-saving products for motors, lighting, refrigeration and air conditioning. Its real-time energy management system Eniscope is used by many customers worldwide including restaurant chains, sports clubs, retailers and data centres.
The investment by Percipient into the business will enable BEST to grow its presence on international markets as well as develop its energy-saving product offering.
Led by Read, HMT undertook financial due diligence for Percipient on the investment, and director Holly Bedford-Bell provided tax advice on the transaction.
Jason Gould at Percipient commented: “We are delighted to have been able to support BEST in order to help it accelerate the rapid growth in the business and continue the global rollout of its market-leading products. HMT was able to quickly grasp the key points we wanted comfort on as part of the due diligence exercise, and proactively worked with the team to deliver what was needed.”
Read commented: “BEST operates in an innovative marketplace and, with Percipient’s support, management is in strong position to lead the business through a period of rapid and significant growth.”
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