Ventures
Sunrise Energy Group invests in service companies across the entire spectrum of upstream activities.
We focus on working with owner-managers of successful niche businesses, providing the investment to support growth plans that will deliver high value to shareholders.
We engage in long term relationships, and use our own direct experience as entrepreneurs.
Model
Sunrise Energy actively seeks investment opportunities where we can add substantial value. Our expertise lie in operational, organizational, financial, strategic and managerial models.
As entrepreneurs with technical backgrounds, we understand the challenges of building up a business. We create true partnerships with our management teams and are fully committed to working closely together to build value and success for our clients.
Sunrise revealed its first investment deal is with Scotland headquartered energy consultancy Xodus Group in partnership with Simmons Parallel Energy Fund. Xodus will receive a total of £10 million from the partners to focus on further growth in the UK and internationally.
Sunrise Energy is aiming for investments in the range of €2 million to €20 million (£1.7 million to £17 million).
Portfolio
Xodus is a leading front end E&P consultancy in the Oil & Gas and Low Carbon industries. The company has built up an unrivalled track record in the last five years becoming a preferred partner for E&P pre-FEED studies worldwide.
Xodus is the first in the industry to offer an integrated subsurface and surface capability with a clear vision to create further value for its customers.
The major cash boost from The Sunrise Energy Group and Simmons Parallel Energy Fund signals a period of significant expansion.
Xodus, which was launched by chief executive Colin Manson and chief operating officer Stephen Swindell in 2005, has grown into the leading independent, integrated consultancy for oil, gas and renewables with more than 330 people employed across the UK and in Houston. The investment will enable Xodus to reach its target of growing to 500 staff by 2012 and 900 by 2015.
It follows hot on the heels of Xodus’ £2 million expansion into the US with the opening of an office in Houston earlier this year and setting up a new joint venture operation in Lagos, Nigeria. Xodus also recently acquired leading specialist renewables consultancy James Ingram & Associates to further boost its impressive low carbon credentials.
Commenting on the deal, Colin Manson, CEO of Xodus Group said: “Xodus has evolved over the last six years as we’ve expanded our horizons in new regions and developed our service offering into a fully integrated package across our six divisions. The investment will enable us to rapidly grow in new emerging regions and realize our ambitions of reaching 500 personnel next year.”
Edward van Kersbergen and Stephane Constant, Managing Partners of Sunrise Energy Group take up new positions as non-executive directors on the board of Xodus.
Edward said: “We believe our subsurface and technical expertise marries well with the contracts Xodus has been developing over the last year. There is huge potential to be a world leader in this sector as demand grows for capturing reserves from more challenging environments. We have great confidence in Xodus’ robust strategy for international growth.”
Simmons Parallel Energy Fund invests alongside others in energy companies with a focus on oilfield services and technology, development and production companies and technologies.
Frank Summers, head of Simmons Parallel Energy Fund said: “We are delighted to support Xodus Group with our fifth investment to the fund. The capital will help accelerate organic growth plans, international expansion as well as fund strategic acquisitions. Xodus is a compelling proposition which has the capability to create a world-class independent international energy consultancy providing integrated solutions throughout the life of an asset.”
Dave Rayburn, who joined Xodus’ London office last year, has been appointed strategic director on the board and Emma Merchant, who has been finance director since 2005, has been promoted to chief finance officer.
