Hanover Investors makes significant equity investment into New Era Energy
LONDON, UNITED KINGDOM - FEBRUARY 15, 2024
New Era Energy (“New Era”), a leading distributor of liquid fuels and fuel-like consumables, has received a significant equity investment from Hanover Investors. Hanover will be partnering with James Hunt (who has become CEO) and the existing team in delivering their ambitious growth plans and expanding environmental focused offering.
Since 1919, New Era has built a reputation as a specialist supplier of fuels and related consumables to commercial customers with critical needs, particularly in construction, demolition and the public sector, where reliability, flexibility and speed are essential for success.
New Era offers a wide range of liquid fuels, primarily White Diesel and HVO (an environmentally friendly diesel alternative), and related consumables, like AdBlue and lubricants, as well as environmental services and an innovative “bag-in-box” fuel storage product, FuelBox.
Best-in-class customer service, an innovative product offering and cutting-edge infrastructure has propelled New Era to become one of the fastest growing independent fuel distributors in the UK, now delivering over 200m litres per year. As one of the first distributors of HVO, New Era is at the forefront of the UK’s green energy transition, helping businesses adopt lower carbon solutions.
David Cowan, Partner of Hanover Investors, said: “We are delighted to be investing behind James and the team, and believe that this investment offers a good blend of strong growth potential, combined with multiple strategic opportunities within a shifting market landscape. The combination of an experienced management team and a robust transition story, positions this investment well for long-term value creation”
James Hunt, CEO of New Era Energy, said: “We are delighted to be coming into the Hanover Investors’ portfolio at this exciting time for New Era. Hanover has a recognised track record of unlocking value and catalysing the growth of other companies it has backed. We look forward to benefiting from the strategic expertise that it will provide to our business as we look to further expand our operations.”
Hanover have made the investment into New Era via Hanover Active Equity Fund III.
About New Era Energy
Founded in 1919, New Era has a long history of distributing fuels and lubricants to commercial and domestic customers. Today, New Era is a market leader in the distribution of traditional and green alternative fuels and consumables primarily to commercial customers, predominantly in off-road settings where there is a critical need. New Era is committed to becoming one of the most compliant and greenest fuel distribution businesses in the industry, running its entire fleet on HVO and striving to support its customers on a sustainable future.
Headquartered in Essex, New Era has over 150 employees and has a national delivery footprint through its estate of 10 depots and over 50 tankers, working with trusted partners in more remote areas.
New Era offers a broad range of fuels and related consumables, and has a track record of product innovation; being one of the first distributors to offer HVO, a renewable drop-in diesel replacement, in the UK as well as pioneering FuelBox, a proprietary recyclable “bag-in-box” fuel storage system.
For more information about New Era, please visit https://newera-energy.co.uk/.
About Hanover Investors
Hanover Investors is an alternative investment firm focused on fundamental investing across private equity, public equity and credit.
Hanover was founded in 2002 with a simple investment philosophy: to invest in situations where we can influence the main levers of value creation by utilising deep research, and employing an active approach to investing. This investment style has delivered consistent, market-leading returns for over two decades.
Hanover is led by its Founder, Matthew Peacock, alongside an experienced team of investment professionals. Hanover has invested in dozens of public and private businesses across Europe and the United States, many of which have a global presence.
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