Apax Global Alpha Ltd - Guernsey-based private equity trust investing on the technology, services, healthcare and internet-consumer sectors - Says it will invest around EUR5.1 million in Integrated Environmental Solutions Ltd, a Glasgow-based software and consultancy group helping companies to optimise their buildings' energy use. On Tuesday the Apax Global Impact Fund, of which Apax Global Alpha is a limited partner, agreed to acquire a controlling stake in IES.
Apax said the investment will allow IES to "scale to meet the increasing demand for sustainability-focused software solutions from building designers, owners, and tenants". This is Apax's second major investment this month, having invested around EUR21.5 million in consumer trend forecaster WGSN Ltd in early February.
Current stock price: 158.20 pence per share, up 2.3% in London on Wednesday morning.
12-month change: down 14%
By Hugh Cameron, Alliance News reporter
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Apax Global Alpha (APAX)