Souter Investments has completed an investment in Averna Investment Company, which has acquired a majority shareholding in ClimateCare, a leading environmental and social impact profit-with-purpose company.
As a leader in the global carbon markets and climate change sector, ClimateCare provides businesses and governments with carbon offset services, sustainable development programmes, environmental and social impact measurement and project development.
The company was founded in 1997 with a focus on projects that reduce carbon emissions and fund social development. ClimateCare is a certified B Corporation and one of the first companies to be B Corporation status in the UK. With offices in the UK and Kenya, ClimateCare has an international customer base of clients and works with over 300 high quality projects in 56 countries covering 34 technologies.
“ClimateCare has a track record of more than 20 years as a leader in carbon markets and tackling climate change. We are focussed on delivering Impacts at scale and to date have reduced over 43 million tonnes of CO2 and improved the lives of over 41 million people. This is just the beginning and there is so much more to be done. We are focused on growing and increasing the size and pace of our contribution to tackling climate change. We encourage all corporations to take full responsibility for their climate impacts now on their journey to achieve “net zero”. With this new investment, we will further accelerate our impact and be even closer to our customers worldwide, enabling us to help them meet their climate responsibilities and turn those into positive outcomes,” explains Edward Hanrahan, Founder and Non-Executive Chairman at ClimateCare.
Vaughan Lindsay, Chief Executive of ClimateCare comments on the investment: “This new partnership represents a crucial milestone for ClimateCare in accelerating our growth and our Impacts. This investment evidences the significant achievements of our business and our talented team. We are very excited to welcome Averna, given the depth of experience the firm has and its knowledge base, which we will be able to use for the benefit of the business, our customers and the environment.”
The investment marks the starting point of the next phase of ClimateCare’s development providing a new capital base for investment in both organic and acquisitive growth of the business. The Founder Investors will remain significant shareholders and partners in the business.
Averna Capital is led by Partners Stephen Green, Richard Tudor and Pierre-Edouard Harant who said: “The programmes that ClimateCare puts together for its clients allows them to offset their carbon emissions and deliver positive social impacts. ClimateCare does this by financing, developing and managing projects across the world which cut carbon, tackle poverty and improve health. At Averna Capital, we share the Climate+Care approach of turning climate responsibilities into positive outcomes and we look forward to continuing the firm’s success and accelerating its growth in this exciting and rapidly growing market.”
John Berthinussen, Investment Director at Souter Investments noted, “ClimateCare is an exciting opportunity for Souter Investments to support a successful and innovative founder and management team to accelerate the expansion of their market leading business alongside experienced investment partners in Averna Capital.”
About ClimateCare
ClimateCare is a Profit with Purpose business which works with forward-thinking organisations to help turn their climate responsibilities into positive outcomes. Since 1997, ClimateCare and its partners have cut over 43 million tonnes of CO2 and improved 41 million lives around the world by financing, managing and developing climate projects.
We have more than 20 years’ experience as a leader in the global carbon markets and climate change sector. We work with major public and private sector clients to fund sustainable development projects that reduce carbon emissions at scale, measurably increase quality of life and deliver towards the UN Global Goals. ClimateCare also advises on a range of climate change mitigation and adaptation subjects, from large scale implementation to national climate change policies.
ClimateCare’s award-winning team use their extensive experience to design, structure finance for and deliver impactful projects around the world.
We develop cost-efficient, high impact, Climate+Care programmes to tackle poverty, improve health, and protect the environment.
ClimateCare is currently ranked the number one B Corp in the UK – B Corp is a global movement of more than 2,500 purpose-driven companies that are using business as a force for good. ClimateCare operates globally from offices in Oxford, UK and Nairobi, Kenya.
Find out more at www.climatecare.org
Follow ClimateCare on Twitter: @ClimateCare
About Souter Investments
Souter Investments is one of the UK’s leading family investment offices specialising in private equity. Founded in 2006, Souter has invested in over 55 unquoted companies and currently has significant investments in more than 25 businesses, acting either as the lead investor or as a partner for other financial sponsors.
Souter Investments’ portfolio includes Stone Group, a leading UK based provider of IT equipment, managed services and solutions, including a secure IT asset disposal service accredited by the Environmental Agency which assists organisations in achieving their information security and sustainability goals; DivideBuy, the leading fintech platform ranked third in the 2019 Deloitte UK Technology Fast 50; and, Pet Network International, the pet care retail group operating in South Eastern Europe benefiting from market leading positions in Croatia, Romania, Slovenia and Serbia and a new presence in Bulgaria.
For more information, please visit: www.souterinvestments.com.
About Averna
Averna Capital is an independent mid-market private equity firm founded by Richard Tudor and Stephen Green that pursues unique opportunities in the UK and Europe leveraging its team and its network’s wealth of experience.
The Averna team's long track record of successful deal execution makes it a preferred partner for investors, business owners and management teams.
Averna approaches each investment with strong quantifiable and shared goals developed with the management team and members of the Averna Network to deliver the best outcome for all stakeholders.
For more information, please visit: www.avernacapital.com.
Press Enquiries
For Souter Investments press enquiries please contact Gordon Beattie at Beattie Communications on 0800 612 9890.