Stockport-based Edina, a provider of combined heat and power solutions, has been bought by an Anglo-Indian partnership as part of a £55m deal.
According to a report by The Irish News, the acquisition was made by EPAL, a joint venture between state-owned Indian energy services firm EESL and UK-based EnergyPro Asset Management.
Established in 1985, Edina is a leading supplier, installer and maintenance provider for combined heat and power, gas and diesel power generation solutions.
The company’s UK headquarters are in Stockport, although it also has operations across Ireland, including a production facility in Lisburn, Northern Ireland, and a presence in Australia. It’s the official UK distributor for MWM gas engines, and Perkins parts and engines in Ireland.
A statement tweeted by EESL this morning said: “Proud to announce that we have acquired #UK’s @EdinaUK, a leading provider of combined heat & power solutions.
“A first-of-its-kind venture by an entity under @MinOfPower, this acquisition will revolutionise global #EnergyEfficiency markets.”
Tony Fenton, Edina’s joint managing director, said: “The opportunities in a vibrant and dynamic economy like India’s are particularly attractive for us, and we’d like to be able to introduce Indian industry to the benefits of CHP (combined heat and power) and our unique service offering.”
Saurabh Kumar, managing director, EESL and Chairman, EPAL, added: “Leveraging Edina’s unique bespoke approach with our proven, innovative business models for scaling energy efficiency solutions across international borders, we are confident in the potential of this partnership to scale trigeneration technology adoption and to transform CHP market in India.
“The acquisition is therefore also an important strategic step in our continued efforts towards facilitating India’s energy security and sustainable energy supply.”
Main image: (From left) Dinesh Patnaik, deputy High Commissioner; Tony Fenton, Edina joint managing director; YK Sinha, UK High Commissioner of India; Saurabh Kumar, managing director EESL.