Energy for Sustainable Development has been bought for £10m by AIM-listed Camco International
South West-based consultancy firm Energy for Sustainable Development (ESD) has been bought by listed carbon credits group Camco International.
The deal was announced on the Stock Exchange last week - a statement from the firms claimed the deal would create "one of the world's leading climate change businesses" with 180 professionals operating in 14 offices across the UK, Europe, China and Africa.
The deal, due to be completed at the end of the month, will see Camco pay £10m in cash and shares for ESD. Camco was first formed back in 2003 to develop greenhouse emission reduction projects, managing the entire process from project initiation to the delivery of carbon credits for sale in the international market.
Since this inception Camco has grown considerably, building up "one of the largest carbon credit portfolios in the world" consisting of 67 projects with the potential to deliver over 104 million carbon credits through to 2012. Camco listed on the AIM listing of the Stock Exchange in April 2006 raising £24.9m.
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