A Welsh graphene supplier has acquired a Suffolk based business focused on reducing energy and water consumption for £17.1m. Haydale has purchased Intelligent Resource Management Limited, which trades as SaveMoneyCutCarbon (SMCC), as part of its transition into a graphene enabled clean technology platform. The acquisition expands Haydale’s reach into ESG consultancy, project delivery and the installation of smart building and sustainability technologies. The focus key phrase, Haydale acquisition of SaveMoneyCutCarbon, reflects the strategic nature of the transaction.
SMCC has partnerships with major UK banks including Barclays, Lloyds and Santander, and with utilities such as Wave. Haydale said the deal gives it a national customer acquisition engine, a business to business sales and project delivery capability, and a commercial platform suitable for scaling its existing and future technologies. Mark Sait, SMCC co founder and chief executive, will join the Haydale board as chief commercial officer.
To enable the deal, Haydale has launched a placing of more than a billion new shares at 0.5 pence each to raise £5.91m, with Quidos and Barclays each committing £0.5m. A further £0.5m will be raised through a retail offer. Haydale will become a plc once the transaction is completed.
Simon Turek, Haydale chief executive, said: “This transaction marks a pivotal step in Haydale’s evolution.” He noted that the company had focused over the past year on becoming a commercially driven clean technology business with “world-class graphene products ready for scale.” He said that by bringing together Haydale’s materials platform, the growing momentum of JustHeat and SMCC’s market access and partnerships, the group is creating a scalable platform capable of deploying energy efficiency solutions “at pace and at meaningful scale.” He added that the enlarged organisation would be well placed to meet rising demand for practical decarbonisation in the built environment.
Mark Sait said: “This acquisition marks a major transitional step for SMCC at a pivotal point in our journey.” He added that the business is moving from piloting its Impact Partner Platform to UK wide rollouts with banks and utility companies. He said SMCC has built what it believes is the first fully integrated value chain for retrofitting the built environment. Becoming part of Haydale, he said, adds the JustHeat product to its platform while giving Haydale access to SMCC’s B2B delivery model and route to market. He said he looked forward to contributing to the next phase of growth.
Steven Poulter of Barclays Climate Ventures said the bank is committed to scaling climate technology and has a mandate to invest up to £500m of its own equity capital. He said Barclays’ investment in SMCC since 2020 had supported work to reduce energy, water usage and carbon. He described the acquisition as the next stage of SMCC’s growth, increasing the scope for impact among businesses seeking to cut emissions.
Cavendish, Allenby Capital and OAK Securities are acting as joint brokers for the share placing linked to the Haydale acquisition of SaveMoneyCutCarbon.
