EARNZ:
Supporting an AIM quoted energy services group through post-IPO change
After going public, EARNZ Plc faced the challenges of scaling their energy business with a small internal team.
Learn how our flexible finance support and strategic guidance enabled the group to move through significant change, including a reverse takeover.
The challenge
EARNZ Plc (Energy Advisory Regeneration Net Zero), formerly Verditek Plc, provide services to residential and commercial properties, including heating maintenance, boiler refits and new energy services.
They acquire and grow other successful businesses and focus on decarbonisation and achieving net zero.
Verditek Plc, then focused on developing green technologies such as solar energy generation, was quoted on the AIM market of the London Stock Exchange in 2017.
Following their IPO, they required experienced guidance to supplement their small team and equip the business for future growth.
Post-IPO, many ambitious businesses benefit from fractional finance leadership, gaining the strategic focus of a senior professional without the cost or commitment of a full-time hire.
What we did
Our team of specialist consultants provided a dedicated fractional financial controller. Our flexible back-office support developed alongside the client’s changing needs and included:
- Budgeting and reporting
- Interim CFO support
- Company secretarial services
- Attending board meetings and preparing papers
- Modelling the impact of pricing and operational changes
- Co-ordinating with nominated advisers (Nomads) and lawyers
- Support with secondary fundraises, ensuring proper investor admin and share creation
- Assisting with discussions to spin-off the legacy business in preparation for an AIM reverse takeover (RTO)
In 2024, Verditek Plc underwent an RTO, acquiring two energy services businesses and becoming EARNZ. We made this process less challenging by bringing our historical knowledge of operations and contracts and assisting with the post-RTO audit to a tight timeline. We continue to provide finance support services to the company.
The result
As the company has faced a variety of challenges post-IPO, our team have been a safe pair of hands: adapting to their evolving needs for business-as-usual finance and strategic guidance, and building a trusted relationship that has continued through changes in leadership.
We have achieved this by operating as part of their team, not simply a provider of outsourced services.
Since 2024, the group has grown to five companies, strengthening EARNZ’s commitment to innovation and sustainability in the energy services sector.
Through the wider BKL team, we have provided EARNZ with continuing fractional finance support, corporate tax and payroll services.
Contact Vicki
