In January 2024, Maven completed an exit from Glacier Energy, a specialist provider of products, services and engineered solutions for renewable and conventional energy markets. The business was sold to Averroes Capital.
Maven backed the business since its inception in 2011, supporting the company in its ambitious buy and build strategy, expansion overseas, and upgrading its facilities here in the UK.
Glacier Energy has been leveraging its engineering and technical capabilities to support low carbon technologies including hydrogen, carbon capture and energy storage with their core capabilities focused on heat transfer and pressure vessels, machining, welding and NDT and Inspection.
The sale to Averroes, we enable Glacier to embark on its next stage of growth, taking advantage of positive market drivers in the energy landscape, in particular the energy transition, energy security initiatives and decommissioning. These trends are driving investments into both low carbon technologies and existing energy sources.
Glacier Energy is very well placed to play a large role in the energy transition and having access to further investment for the next phase of our journey will accelerate this. I would also like to take the opportunity to thank the investors who have now exited the business as part of this transaction and am extremely grateful for the support they provided to me and the team.
Scott Martin, Group CEO of Glacier Energy
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