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DTE Corporate Finance advises on Management Buyout of The New Energy Industries Ltd


Headquartered in Manchester, The New Energy Industries Ltd (TNEI) provides specialist energy and environmental consultancy services to a wide range of organisations across numerous sectors. TNEI also has offices in Newcastle, Glasgow and Cape Town.

Rachel Hodges and Nigel Tate, who had managed TNEI since Petrofac, a UK listed company, originally acquired it in 2010, had opened discussions with Petrofac to facilitate an MBO.


Rachel and Nigel were recommended to DTE by their bank to assist with the transaction. Their needs included advice on valuation, how to negotiate with Petrofac, how a deal should be structured and how this should be aligned with the funding that needed to be raised to facilitate the transaction.


Whilst experienced and successful business operators, the MBO team had never encountered what was ahead of them for the next 4 months. It was also vital for them to continue to focus on the business to ensure it was well placed when the transaction completed.

DTE provided a hands-on, senior-led approach in all aspects of the transaction, including negotiating a structured deal with Petrofac, fundraising debt finance to match the transaction structure and providing sufficiently robust information to the bank to allow participation.

These services, along with the more general transactional advice, allowed for a relatively seamless transition for TNEI from being a large corporate subsidiary to a North West owned SME.

About The New Energy Industries Ltd

Specialist consultancy supporting the energy, power and renewables sectors.

  • Sector: consultancy
  • Company Size: SME
  • Location: North West, United Kingdom

About the MBO team

Rachel Hodges and Nigel Tate, Managing Directors of TNEI since 2010.

“As TNEI was previously independent and Petrofac have given TNEI a large amount of autonomy over the years, we do not expect this change to have a significant impact on the way that we operate and we are excited about the opportunities that come with being a completely independent specialist consultancy in this exciting sector.”

Rachel Hodges and Nigel Tate
MBO team from TNEI

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