In January 2013, Solfex Energy Systems was sold to Travis Perkins Plc representing a full exit for Panoramic. The sale generated an IRR of 75% following an initial investment of £1.25m. Lancashire based Solfex was established in 2006 by Stuart and Susan Cooper, and utilises its distribution platform to integrate and supply components to the UK’s renewable companies.
How did Panoramic made a difference?
With Panoramic’s backing, Solfex grew to become one of the largest renewable energy systems integrators in the UK. It saw its profitability increase substantially and turnover grow from £5m to £22m in just two years. It also broadened its product range and service offering and tripled headcount from five to fifteen employees over the same period.
Solfex was listed as the UK’s 5th fastest growing private company in Britain by the annual Sunday Times Virgin Fast Track 100.