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Tewkesbury-based Automated Building and Energy Controls Ltd (ABEC) has been acquired by funds advised by private equity firm Magnesium Capital supported by credit fund DunPort Capital Management.

ABEC provides building and energy management systems, electrical power monitoring systems and programmable logic controller solutions to data centre developers and contractors.

The transaction will see ABEC partnering with Magnesium Capital to establish itself as a global player. ABEC’s chief executive Matt Morrall, who co-founded the business with his brother Paul Morrall in 2004, will continue to lead the business alongside chief operating officer Matt Litten, both of whom have invested alongside Magnesium Capital as part of the transaction.

ABEC employs 150 people in 11 countries and expects to turn over £43m in the 2024/25 financial year.

Matthew Morrall said: “I am very proud of the growth ABEC has achieved over the last decade and particularly more recently over the last three years. This is credit to the wonderful team we continue to build. Our vision has always involved expanding geographically and we are very confident we can achieve this by staying true to our core values. Working with a partner like Magnesium is key to helping us achieve our strategy. We’re very excited about working together over the next few years.”

Magnesium Capital partner Daniel Wild said: “Data centre energy consumption has increased rapidly in recent years, ensuring this consumption is managed efficiently is critical for all stakeholders, and in delivering the energy transition. ABEC is equipping its customers with the tools and support to manage their assets effectively over their entire lifecycle.”

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