Speechly Bircham has acted as the legal adviser to FF&P Private Equity, the private equity business of Fleming Family & Partners, on the buy-in management buy-out of FIT, a specialist energy efficiency business.

The acquirer, Efficient Energy Management Group, majority owned by FF&P Private Equity, intends to capitalise on the demand for energy efficient commercial kitchens, as energy costs have more than doubled over the last 10 years (source: Department of Energy and Climate Change).

Since 2001, FIT has designed and installed energy saving solutions for a large number of blue-chip customers, including major supermarket, hotel and leisure operators in the UK and Europe. FIT's solutions offer compelling payback periods, with the savings being monitored and measurable for customers. The company's Cheetah™ system, an energy management and safety control system for commercial food preparation, has been installed in over 2000 locations, for clients including Whitbread, Tesco and Sainsbury's. 

Dan Walker of FF&P Private Equity said "The completion of this investment continues an excellent relationship with the Speechlys private equity team, which has seen us complete four new investments using their assistance and advice during the last 18-months."

Commenting on the transaction, Malcolm MacDougall, partner at Speechly Bircham, said: "We are delighted to have worked with FF&P and the management buy-in team led by Simon Jarman on the transaction. It has been a pleasure to work with FF&P Private Equity again and continue to strengthen this very valued relationship".

The Speechlys team was led by private equity partner Malcolm MacDougall and private equity senior assistant Adam Crossley, alongside private equity assistants James Turner and Lucy Scott, tax assistant Robert Birchall, IT partner Mark Bailey and employment assistant Adam Partington.

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