Done Deal: ENSEK

SaaS Step Change

 


a portfolio company of

LDC

£5,000,000

Revolving Line of Credit

Energy SaaS Provider

Financing Event: Growth
PNC Deal Leader: Graham Barber

The Company: Technology Leadership

ENSEK, a portfolio company of LDC, has grown to become a leader in SaaS development and provision to the UK energy sector, offering suppliers the ability to manage the entire customer lifecycle on one cloud-native platform. ENSEK empowers over 20 UK energy companies to deliver a state-of-the-art service across the domestic, SME and industrial and commercial spaces, serving millions of households and companies.

The Deal: Fast Track

Being a Sunday Times Tech Track 100 company and also having made it into the Tech Nation’s Future Fifty, ENSEK has exciting plans to further accelerate its growth. The business therefore required a facility that would help provide additional investment into its people, technology and future acquisitions.

The Achievement: SaaS Step Change

As a consistent and active lender to sponsor owned companies, PNC was able to deliver the perfect piece of the jigsaw to support ENSEK on its fast track trajectory.

From the very first meeting we felt that PNC was a team that we could easily work with. They understood the business and our ambition instinctively, demonstrating responsiveness, pragmatism and insight during the deal process. We’ve delivered a strong period of growth over the past few years and as we move into our second decade of driving the energy industry towards a more digitised future, we’re eager to continue our dedication to innovation and our customers’ continued success. The facility from PNC gives us all the flexibility we need to take advantage of the opportunities presented by a fast-growing receivables balance, to invest and build at pace, whilst also future-proofing our scalability.

Phil Bennett | CFO, ENSEK

Important Legal Disclosures & Information

*A portion of the funding provided by Steel City Capital Funding, a division of PNC Bank. Steel City Capital Funding provides Cash flow-based senior debt, junior secured and second lien loans for sponsored and non-sponsored transactions. 

Neither PNC Financial Services UK Ltd. nor PNC Bank Canada Branch provides legal, tax or accounting advice.

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