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We are pleased to have provided funding to facilitate a management buy-out at Crondall Energy, a leading independent offshore energy consultancy.

Founded in 2001, Crondall Energy provides strategic, commercial and technical services for offshore energy projects in the UK and around the world, specialising in floating and subsea facilities. The business has a 55-strong workforce based in Southampton, Aberdeen, London, Glasgow, Newcastle, Singapore and Houston.

Funding from ThinCats in 2018 enabled the primary MBO, whereby current MD Anna-Louise Peters became a minority shareholder. The MBO sees founder Duncan Peace retain a minority stake in the company as he prepares to retire from full-time executive involvement, whilst retaining a Non Executive position on the Board. Led by Managing Director Anna-Louise Peters, 29 staff now own a share of the business as it embarks on the next stage of its journey.

The corporate finance advice was provided by PKF Francis Clark, with legal support provided by Foot Anstey LLP.

This is an incredibly exciting and natural next step in Crondall’s evolution. The management team has seen an opportunity to continue the Crondall Energy brand and legacy, capitalising on the fantastic culture and working environment we have created, and continue our development as an independent consultancy firm. We believe that the current market environment creates real opportunity for further growth, particularly in the energy transition and renewables spaces, and that has the potential to create exciting career and development opportunities for the whole team, alongside return for the shareholders. We are delighted to re-commence our very productive working relationship with ThinCats, and we look forward to working alongside them as we continue the Crondall journeyAnna-Louise Peters, Managing Director, Crondall Energy

Steven Munt, Senior Director, ThinCats commented: “We are delighted to support Anna-Louise and the expert management team at Crondall Energy with the funding for their MBO. This is a very exciting time for their business with important projects concerning the decarbonisation of our economy and the net zero future of energy. We look forward to seeing their continued growth.”