Done Deal: ThinkHire

Powering Towards Net Zero

PNC Business Credit Case Studies
Solar Powered Renewable Energy Product

Established in 2018 and introducing its product set to market in early 2020, ThinkHire was created to enable infrastructure players to meet their net-zero targets in the face of the mounting climate crisis. ThinkHire offers lower carbon and lower cost substitutes to traditional diesel generators.

Need:

ThinkHire has pioneered the world’s first adaptable solar hybrid generator, an off-grid solar hybrid adaptable power supply unit proven to reduce CO2 emissions by over 90% and fuel costs by up to 80%. As ‘ESG’ and ‘Carbon Neutral/Net Zero’ targets become more common across Infrastructure and Construction companies, the need to operate sustainably is growing rapidly.

Solution:

YFM Equity Partners invested in ThinkHire in Dec 2022. As part of its new growth strategy, ThinkHire will undertake sizeable investment in expanding its rental fleet of green energy fuelled portable power generators powered by a new Revolving Asset-Based Lending facility from PNC Business Credit.

Results:

Ideally positioned as the prime mover in its markets, ThinkHire is extending its distribution network across the UK and ramping up investment into developing new products and services to help clients meet their net zero goals.

Business Services

ThinkHire

A portfolio company of

YFM Equity Partners

£15,000,000

Revolver

Working Capital

Financing Event: Growth
PNC Deal Leader: Ed Hampton-Matthews

The new facility creates the ideal platform for the growth trajectory of the business. We are delighted to be working with PNC at this exciting time in the development of ThinkHire.

__ Peter Clarkson | Financial Director, ThinkHire
There was strong banking interest in ThinkHire’s green power growth strategy and its focus on renewable energy contributing to the ESG imperative. We are pleased to be partnering with PNC which has a first-class reputation and track record for providing flexible and scalable funding solutions in this space.

__ Dan Freed | Partner, YFM Equity Partners