£6.25m backs buyout to scale Best.Energy energy-saving IoT sensors across estates
This article covers Best.Energy, an energy startup, and its majority buyout by Future Business Partnership supported by OakNorth’s £6.25m debt funding package to back a management buyout and provide a bespoke revolving credit facility. The deal enables Best.Energy to scale deployments of its energy management technology across commercial estates and facilitates the exit of Percipient Capital, supporting estate managers, private equity investors and businesses focused on operational decarbonisation.
OakNorth has provided a £6.25m debt funding package to support Future Business Partnership’s majority buyout of Bristol-based Best.Energy, backing a management buyout and a bespoke revolving credit facility intended to fund the company’s next growth phase. The deal also facilitates the exit of Percipient Capital and positions Best.Energy to scale deployments of its energy management technology across commercial estates.
Why it matters
The transaction highlights how lenders and impact investors are financing operational decarbonisation plays that deliver near-term cost savings for businesses. Best.Energy’s tools target building-level waste that customers often cannot see, which can translate into immediate bill reductions and measurable carbon cuts. That value proposition is attracting capital as the global energy-efficient building market is projected to grow at a compound annual growth rate of 11.3% between 2026 and 2034.
Inside the product
Founded in 2006, Best.Energy combines IoT hardware, cloud software and AI-enabled services to provide real-time, asset-level visibility of energy consumption. The company’s Eniscope platform and Air family of sensors and controls feed granular data to help site managers identify and eliminate waste. Best.Energy reports deployments across thousands of sites in more than 70 countries and works with clients in restaurants, retail, leisure, manufacturing and education, typically claiming double-digit percentage savings on energy bills.
Best.Energy can be described as an energy startup that has evolved from a Cornish origin into a global energy management business, offering a mix of hardware and software aimed at reducing both cost and carbon intensity for multi-site organisations.
Who are the investors?
OakNorth provided the £6.25m debt funding package to support Future Business Partnership’s (FBP) majority buyout of Best.Energy alongside the company’s management team. The financing includes a bespoke revolving credit facility to support working capital and growth initiatives. The transaction creates an exit for Percipient Capital, the previous private equity backer.
A wide range of advisers supported the deal: Best.Energy and Percipient Capital were advised by SRC Corporate Finance (lead advisory) and DMH Stallard (legal). Future Business Partnership were advised by Alvarez and Marsal (corporate finance), Roedl and Partner (accountancy), Burness Paull and K&L Gates (legal), Johnston Carmichael (tax), Greenheart (impact and accountability), Cantec Energy (technology), SiCol (supply chain risk), Brown & Brown and Bridge Specialty (insurance), Cyber DueDil (cyber risks), Hanuman Partners (compliance) and Suntera (compliance). OakNorth were advised by Pinsent Masons.
In the announcement, Tracey Huggett and Vish Srivastava, Managing Partners of FBP, commented:
Best.Energy is exactly the sort of business in which FBP was built to invest in. Our peers across the PE industry are always focusing on cost efficiencies for their portfolio, in this macro environment more than ever, and Best.Energy can enable them to save money and save carbon, a win-win for business and for the planet. Having the support of OakNorth on this transaction and working with Stewart Haworth who brings deep expertise in supporting private equity-backed businesses, gives us additional confidence as we look to scale the company and maximise its impact.
In the announcement, Stewart Haworth, Senior Director of Debt Finance at OakNorth, added:
We’re delighted to support FBP and the management team at Best.Energy on this transaction. Having worked extensively with private equity investors, we understand the importance of flexible, tailored financing solutions that can support both acquisition strategies and long-term value creation. The energy efficiency market is seeing significant and sustained demand, with strong double-digit growth projected over the coming years. This creates a compelling opportunity to back high-quality, scalable platforms like Best.Energy, which combine proven technology with immediate, tangible ROI for customers. We look forward to supporting the business through its next phase of growth.
If you're researching potential backers in this space:
- Explore our list of energy venture capital firms in the UK
- Browse our directory of energy angel investors in the UK
Founder perspective
In the announcement, Troy Wrigley, CEO of Best.Energy, said:
It’s remarkable to think that over 30% of the energy businesses pay for is wasted – they just don’t know which 30%. That’s why we invented our unique energy saving platform. It shows you exactly where the waste is and enables you to eliminate it. With the backing of FBP and the support of OakNorth, we’re well-positioned to accelerate our growth and help more organisations globally reduce energy costs and achieve their net zero ambitions.
Wrigley’s comment frames the MBO as both a commercial growth play and an acceleration of the company’s mission to deliver measurable energy reductions for multi-site operators.
The bigger picture
The deal illustrates a broader trend in the UK and Europe: private capital is increasingly targeting companies that can demonstrate both financial return and quantifiable emissions reductions. For corporate estate managers and private equity portfolios, tools that deliver quick payback on energy spend are becoming essential cost-control and sustainability levers.
For the UK ecosystem, transactions that pair specialist impact investors with flexible debt finance providers could become a standard route for scaling technology-driven energy efficiency firms. As regulations and net zero commitments push organisations to cut energy use, funding structures that support roll-out and service delivery will remain important for the sector’s growth.
They've invested in Best.Energy
Get to know these energy investors
Click here for a full list of 7,589+ startup investors in the UK