February 27th 2024

IES receives investment from Apax Global Impact Fund to help accelerate decarbonisation of built environment

IES receives investment from Apax Global Impact Fund to help accelerate decarbonisation of built environment

Today, IES are pleased to share some exciting news as we take the next step to accelerate our mission to decarbonise the world’s buildings. 

In its first climate-focused investment, the Apax Global Impact Fund, advised by Apax Partners LLP (“Apax”), are investing to acquire a controlling stake in IES, subject to customary antitrust approvals. This strategic investment is a positive step forward for our business, which will help us scale our impact and aligns closely with Apax Global Impact's thematic focus on reducing environmental harm and resource use.

As a business, IES are proud of what we have achieved over the past 30 years to reach the point we are at today, with 300+ employees and 18,000+ software users globally averaging 75,000+ projects every year. We estimate that our technology has helped to improve more than 1.5 million buildings across the globe to date, including some of the world’s most iconic buildings, such as Heathrow’s Terminal 5, and the Dubai Opera House. We’re excited to see our impact continue to grow as we enter this next stage.

This investment will enable IES to scale to meet the ever-increasing demand for sustainability-focused tech solutions from building designers, owners, and tenants. With the built environment being a major contributor to global greenhouse gas emissions, there is an urgent need to decarbonise buildings as quickly as possible.

Please note that our trading business remains the same and there will be no contractual changes for our customers.

Don McLean, Founder and CEO, IES, commented: "I’m incredibly proud of the IES team for the success we have achieved over the last thirty years, and in Apax we have found a likeminded partner who is ideally placed to help us in the next stage of our growth journey. Buildings and cities have the potential to make the biggest impact in reducing carbon emissions globally. This investment, and the support of the Apax Impact team, will empower us to support ever more clients around the world in creating a built environment that is resource and energy efficient.”

Edward Donkor, Partner, Apax Global Impact team, said: “We couldn’t be happier to be partnering with Don and the entire IES team in their mission to decarbonise the built environment. This partnership marks the first climate-focused investment for the Apax Global Impact Fund, and we see huge potential for IES’s pioneering software.

Chris Robinson, Principal, Apax Global Impact team, added: “As we collectively progress towards Net Zero goals, innovative technology such as that offered by IES will prove critical in the transition to a more sustainable future. We look forward to working closely with the IES team on our joint vision for the company, harnessing IES’s market-leading software to solve some of society’s biggest climate challenges.”

Got a question? Please contact us via enquiries@iesve.com.