Case Studies

Case Study Matrix

The Company:

Green Sky Energy (GSK) is the parent company to Manchester-based Matrix, which offers a suite of energy efficiency and management services, based on advanced metering and building energy management technologies. It currently has 31,000 data connections to customer sites which allow Matrix to remotely configure and control building energy management systems, and optimise the use of energy in commercial buildings of blue-chip corporate and public-sector customers. It operates nine regional offices in the UK as well as an advanced energy management centre in Glasgow, and supports customers in 22 countries around the world.

Added Value:

  • Since 2010 Matrix has transformed from a traditional building controls company into an integrated energy management services provider
  • In 2010 and 2011 the business completed two acquisitions – DWEC and ACME, helping to further cement Matrix’s position in UK energy efficiency market
  • Strengthened management team


  • In 2013, LDC completed the sale of GSK to E.ON Connecting Energies, generating a return for LDC in excess of 4x money
  • Since LDC’s initial investment, expansion of the company’s retained client base, which has been supported by significant investment in infrastructure, has seen revenues at Matrix more than double from £25m (2010) to £54m (2012)
  • Staff numbers at the business also increased from 105 to 340
“LDC has been the ideal investor in supporting the evolution of our offering and establishing our position in the UK energy management market. “The team has been integral to supporting our considerable growth over the past three years, which has included a number of strategic acquisitions. Becoming part of a leading energy group like E.ON is an excellent outcome for employees and customers.”
Ian Kelly, CEO, Matrix


  • 2 acquisitions
  • 100% increase in revenue
  • Staff numbers increased from 105 to 340
  • 4x money return