Learnd, a UK-based systems integrator, has announced the acquisition of Complete Energy Controls, a Scottish firm delivering Building Management Systems (BMS) with a multi-site energy management focus. This Research Note highlights the public listing of Learnd, their “buy and build” business model, recent and forthcoming acquisitions, based on investor presentations, SPAC documents and Memoori analysis. In September 2022, GFJ ESG Acquisition I SE, a SPAC listing on the Frankfurt Stock Exchange, entered into a definitive business combination agreement with Learnd Limited. The acquisition of GFJ ESG Acquisition was completed in a reverse merger transaction on 23rd January, 2023. The transaction valued Learnd at a pre-money equity value of EUR 99 million (US $99 million). Memoori noted in October 2022 that GFG had previously been a contender for a SPAC acquisition of tado, the smart thermostat company, but this deal failed to complete. Founded in 2020, Learnd supports customers in making energy savings and reducing their […]