Bridgepoint Development Capital acquires BAS
BAS has been acquired by Bridgepoint Development Capital for an undisclosed sum.
Founded in 2006 following a buyout from Siemens, BAS specialises in supporting building owners to control, monitor and reduce energy usage via the efficient use of a building energy management system (BEMS). The latter is a computer-based control system that controls and monitors the building’s mechanical and electrical equipment to enable occupants to work in a comfortable environment whilst reducing energy usage and associated costs.
BAS typically has long term recurring contracts with clients to support an installed BEMS or undertakes project-based work concerning BEMS upgrades as well as the design and commissioning of new energy management systems. The broad energy management sector which BAS serves benefits from a combination of powerful legislative drivers compelling businesses to reduce their energy usage and associated carbon footprint, rising energy prices and the increasing need to make more efficient use of scarce energy resources.
According to BAS Managing Director Brin Sheridan, with backing from Bridgepoint Development Capital, the company is now well-positioned to continue to grow its core support business as well as invest meaningfully in its current energy management solutions offer.
“There is a clear opportunity for BAS to grow its core support and project work where we are already a significant player. In addition, BAS will increasingly become more involved in helping companies design and deliver their broad energy objectives as part of the larger energy management market, using our proprietary software to capture data and informing customers to take more operationally focused decisions about their energy policy.”
“With an investor such as BDC alongside the management team and the original founders, we now have the support and capital to accelerate our growth aspirations” he said.