Energy saving firm secures investment

Energy-saving specialist Matrix has received a £10m investment from private equity group LDC to help it expand into the £800m energy sector.

LDC has invested the money in return for a minority stake in Matrix, which is one of the UK's leading integrators of building energy management systems and consultancy services. The company, which has a turnover of £25m and counts Tesco and Marks & Spencer amongst its clients, has already identified several acquisition targets and a deal is expected to follow shortly, according to LDC. One of those is believed to be Altrincham-based firm Building Automation Solutions.

Ian Kelly, a leading figure in the energy management sector, has been appointed chief executive, while all of the existing senior management team will remain with the business. The executive team has also been strengthened by the appointment of Steve Daniels as sales director and Simon Oldfield as chief financial officer.