Mid-market investor Lyceum Capital has bought a majority stake in energy procurement consultancy McKinnon & Clarke for £22 million.

Mid-market investor Lyceum Capital has bought a majority stake in energy procurement consultancy McKinnon & Clarke for £22 million.

The company’s founder Sandy McKinnon retains a minority stake, while existing CEO Simon Northrop will continue to lead the business as it aims to treble its turnover, currently £23 million, during ‘the next few years’.

According to Northrop, the rise in environmental legislation presents opportunities for McKinnon & Clarke, which aims to help its clients decrease energy costs while complying with international regulation.

Two partners from Lyceum Capital, Daniel Adler and David Harland, will join the company’s board.

Says Adler, ‘As well as an established management team, McKinnon & Clarke has strong, visible revenue streams and a pool of strategically aligned acquisition targets which, when integrated, will enable us to develop the business into a robust, international market leader.’

The company employs 87 people in Scotland, where it is headquartered, and a further 286 in offices across Europe and the Far East.