Mechanical and electrical (M&E) contractor Enerveo has announced the departure of its chief executive.
The firm was bought back from private equity company Aurelius by former parent company SSE in late March.
Zak Houlahan, who was appointed by Aurelius in 2021, has been replaced by the company’s chief financial officer Peter Schoeneberg.
Schoeneberg, who has been Enerveo’s CFO since June 2022, will take up the new title of managing director.
He has previously worked in sectors including manufacturing and environmental services as well as holding financial and commercial roles at Amey and Viridor.
SSE bought back the company, formerly known as SSE Contracting, three years after selling it for £27.5m to Aurelius.
In a statement on his appointment, Schoeneberg said: “As we enter a new era for the business, I look forward to leading the team through the next stage of our development.
“As a major mechanical and electrical contractor, we have an important role to play in enabling society to achieve net-zero targets and we are focused on meeting challenges head-on to deliver the best value and service for our customers.”
Enerveo has been consistently loss-making since its 2021 sale. Its latest accounts, for the year ending 31 March 2023, showed a pre-tax loss of £10.2m on revenue of £256.7m.
Announcing the buy-back in late March, an SSE statement said Enerveo had “found it challenging to operate as an independent business”.
It said it would work with company management to review the business and develop a new long-term strategy for improvement.
The value of the sale back to SSE was not disclosed.
Houlahan took over as chief executive in December 2021, following the death of predecessor Stuart Chaston from Covid a few months earlier. Houlahan has now left the business.
Schoeneberg takes up the role of managing director today (1 May).
