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Global consulting firm BIP has announced the acquisition of Verco, an energy management and sustainability business providing zero-carbon solutions for a wide range of organisations. The move will help BIP improve its sustainability offerings to clients around the world.
Danilo Perrucci, head of sustainability and energy management global at BIP, commented, “We are thrilled to be working closely with Verco, an organisation that mirrors our dedication to providing solutions for a zero-carbon future. With the world already experiencing the damaging effects of climate change, we look forward to leveraging our combined strengths to help meet the growing demand for net zero and sustainability support across a wide range of business sectors.”
One year ago, BIP’s UK wing joined a list of more than 5,000 businesses committed to balance people, profit and the company’s impact on the planet, by becoming a B Corp. Verco is also part of that collective, and is committed to helping companies across industrial, central government, retail and commercial real estate sectors reduce their environmental impact with data-driven analysis, net zero strategies and transition plans.
Founded in 1989, Verco is an energy management and sustainability business with 30 years’ experience at the cutting-edge of the low carbon economy. The firm’s purchase grants access to more extensive resources, cutting-edge technologies, research assets, expertise and international talent, enabling BIP and Verco’s clients to better meet their sustainability and ESG goals in an ever-evolving landscape.
The deal marks the beginning of an exciting new chapter, accelerating both companies’ sustainable impacts on a global scale – and is part of BIP Group’s broader strategy of non-organic growth, expanding its geographic coverage, supply of cutting-edge technologies, and international expertise and talent in the global market. In addition to the UK, BIP is considering numerous options, with a focus on France and Germany.
Dave Worthington, managing director at Verco, added, “At Verco, our mission is to provide solutions for a zero-carbon world, by making a material difference to global carbon targets, building a community of passionate professionals, and entering long-term collaborations and partnerships. We are immensely proud of the strides we’ve made so far, and now, strengthened by BIP’s expertise and geographic and sectoral breadth, we are poised to rapidly accelerate our mission.”
A number of professional services firms supported the completion of the deal. For the acquisition, BIP was assisted by the law firm Allen & Overy, with a team led by partner Paolo Nastasi, and composed of associates Enrico Roveda and Davide Cinefra and trainee Chiara Basile Baldassarre from the Milan office, as well as partner Harsh Pais, counsel Gareth Banfield, and associates Andrew Pang and Frederic Pilkington from the London office. Meanwhile, KPMG followed all legal, labour, tax and financial due diligence activities, with a team led by Lorenzo Brusa, Sabrina Pugliese and Valeria Peccerillo, and composed of Matteo Ghislandi, Cosimo Garofalo, Simone Conti and Claudia Pussini.
On BIP’s side, legal activities were coordinated by Group General Counsel Lodovico Bianchi Di Giulio, while the M&A Team led by Managing Partner Andrea Airaghi and composed of director Giovanni Errante Parrino and manager Stefano Luciano followed all phases of the transaction up to closing. Verco was advised by Waypoint Partners, Lee & Thompson, Parisi Tax and Francis Clark.
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