Norway-based industrial investment company Bonheur ASA, has acquired a controlling stake in global technical consulting and engineering firm, Projective.
Projective specialises in providing tailored solutions to large blue chip companies across various industries, including utilities, pharmaceuticals, food and beverage, FMCG, brewing and distilling, manufacturing, chemical processing, large scale commercial and public real estate, and energy.
Established in 2004 by Ray Wellham and other founding directors, Projective offers engineering consultancy advice and project expertise in utilities management, energy efficiency, and sustainability, with the aim of helping clients meet their Net Zero Carbon goals, and has offices in the UK, US, and Europe.
The investment from Bonheur will provide Projective with growth capital, enabling it to scale its operations, both organically and via targeted acquisitions.
Ray Wellham, CEO of Projective, commented:
“Projective helps businesses improve their operational performance by providing expert advice and solutions for designing and managing their industrial utilities and process systems. We work across a wide range of industries to help make their processes more efficient, sustainable, and environmentally friendly. We have a proven track record of helping companies reduce their energy and water use and meet environmental goals, such as becoming carbon-neutral. Simply put, we assist companies to save energy and water, reduce costs, and improve sustainability in their operations.
“We already work closely with blue chip corporations around the world from our offices in the UK, Italy, Ireland and the US, and this investment will assist us to better service global corporations, add further corporate accounts to our already successful business, and attract talent through new business opportunities. Our next focus will be in building out the team to help support growth in our existing customer accounts and support a portfolio of new customers.”
Øyvind Engesrønning, CEO of Fred. Olsen Investments AS who manages new investment opportunities for Bonheur and is responsible for this acquisition, also commented: “We are pleased to announce the investment in Projective, where we hope to see the company continuing to help existing and new clients in their decarbonisation efforts and reaching their net zero targets.”
Lloyd Butterworth, Investment Director at Fred. Olsen Investments AS, added: “We are looking forward to partnering with Projective and to assist them to scale in the coming years. Projective’s focus on energy consumption, manufacturing carbon intensity and energy efficiency is of great societal importance, and we will help them to meet their clients’ decarbonisation goals”
Ray Wellham concluded: “We believe that ambitious energy and sustainability targets cannot be attained without the development of specialist engineering services which help companies to reduce cost and to become more sustainable. We are very pleased to welcome Bonheur as a partner and will now look to set out the value in our offering to a wider range of decision makers at blue chip corporations around the world.”
