.Anthesis, the sustainability consultants and impact investors, have revealed ambitious plans to help eliminate more than 3 gigatons (GT) or 3 billion tonnes of Carbon Dioxide (CO2e) by 2030. They hope to achieve this with the aid of a substantial (not yet quantified) investment from regional private equity firm Palatine Private Equity announced on March 8th. To put that figure into context, the total CO2e emission for the US in 2019 was 5.3GT and, for the same year, the UK’s equivalent was 0.37GT.
Anthesis has gained an enviable reputation since their inception in 2013 with a global workforce of 600 consultants across 17 countries. By setting science-based targets, developing net zero strategies and implementing carbon emissions reduction programs, Anthesis’ clients now include a quarter of the FTSE 100, 65 of the Fortune 500 and firms of the magnitude of Amazon, Tesco, Cisco, Nestle, Kimberley-Clark and Target.
The announcement of the new venture with Palatine came on the same day that Anthesis announced that they had gained fully certified B Corporation status – the distinction given to businesses meeting the highest standards of social and environmental performance, transparency and legal accountability to balance profit and purpose. Anthesis’ upward trajectory has seen an organic revenue growth of over 20% since 2017 and over 10% growth even during the challenging pandemic-beleaguered year of 2020.
Palatine Private Equity was founded in 2005 as a venture capital and private equity firm investing in UK-based mid-market companies with headquarters in Manchester and offices in London and Birmingham. They run two funds – an Impact Fund and a Buy-Out fund – from which their investment in Anthesis will come.
Palatine’s Impact Fund invests between £5m and £10m in innovative businesses which are focused on creating positive impact on society or the environment. Their Buy-Out Fund invests between £10m and £30m in high growth companies across diverse sectors including financial services, technology, media, telecoms, healthcare and leisure to accelerate their aspirations through buy-and-build strategies.
This diversity is reflected in Palatine’s portfolio of previous investments which include Air Energi, Gusto, Hallmark Hotels, John Charcol, Vernacare, Westleigh, Back2Work and Cyberfort among the 200-plus acquisitions their strategies have helped make.
Anthesis will remain majority owned by its team with Palatine partners Beth Houghton and Tristan Craddock joining their board as non-executive directors. The company is well positioned to become a leading player in the rapidly developing world of impact investing as others require guidance in ensuring that they are incorporating as many of the UN’s 17 Sustainable Development Goals (SDGs) as possible into their operating model.