Friday 11 May 2012

BREAKING - UK #Energy Consultant M&C Energy is being sold to a French energy giant in a deal that values the consultancy at around £90 million

M&C Energy is being sold to a French energy management giant in a deal that values the Dunfermline-based consultancy at around £90 million.

Lyceum Capital, the London-based private equity business that bought the former McKinnon and Clarke in a £22m deal in 2009, said it has agreed to sell the company to Schneider Electric.

"Contracts have been exchanged and the deal ... is expected to complete in Q2 2012," said Lyceum Capital.

The terms have not been disclosed. It is understood that Schneider Electric has agreed to pay around £90m.

Lyceum bought a controlling stake in M&C to capitalise on growing demand for advice on energy matters.

Sandy McKinnon, a former military intelligence analyst who founded the company, had a stake of around 55%, with his family and associated trusts and funds, at the time of the sale. He retained a minority stake after the sale.

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