Domna has secured a majority investment of up to £70m from funds advised by Leon Capital to support its expansion plans.
Formerly known as Hestia, Domna was founded in 2023 by ex-McKinsey partner Anna Moore, ex-British Land and essensys leader Chenai Gondo and former Exii CTO Khalim Conn-Kowlessar.
The company combines proprietary retrofit assessment software with on-site services to provide turnkey energy efficiency advice to private and socially rented housing portfolios throughout the UK.
The initial investment by Leon Capital will facilitate Domna’s ‘buy-and-build’ approach and allow the company to scale up its operations quickly in response to the acute need for residential retrofit in the UK.
As a result of the new funding, Domna has acquired retrofit surveying and contracting businesses The Warmfront Team and Osmosis ACD.
The Warmfront Team specialises in energy efficiency surveying services and currently works with more than 60 social housing associations in the UK, and Osmosis ACD is an independent retrofit consultancy specialising in providing PAS (Publicly Available Specifications) 2035-compliant retrofit assessment, coordination, and design to housing associations and local authorities.
Anna Moore, chief executive officer and co-founder of Domna, said: “In Leon Capital, Domna has found a forward-thinking partner that shares our commitment to raising the bar for UK housing and, in doing so, to realising the £500bn+ opportunity in UK retrofit. The synergies with Warmfront and Osmosis are clear and together we are already proving that retrofit is not only the right thing to do, but also good business.
“Whether you care about climate change or the standard of living, the need for action on retrofit is urgent, with homes driving 26% of total emissions in the UK and an estimated 6.5 million households living in fuel poverty. This investment allows us to reach more households, offering practical advice and rolling up our sleeves on site to make homes not only more healthy, comfortable, and energy efficient but also more valuable, with retrofits often adding over 20% to valuations.”
Alexander Hearn, founder of The Warmfront Team, added: “I’m thrilled to announce the partnership and transition of the Warmfront team to the Domna Group after 14 incredible years of trading. It was crucial for me to find the right partners who share our vision for a greener future. I have full confidence that the Domna Group will take Warmfront to the next level, continuing our mission to reduce carbon emissions in the UK and make a lasting positive impact on the environment.”
Matt Ratcliff, founder of Osmosis ACD, said: “We couldn’t be more thrilled that we’ve joined forces with Domna. This acquisition marks a significant milestone for Osmosis ACD and reflects the hard work and dedication of our entire team and the support from existing and previous clients. Domna shares our vision for excellence and our commitment to our teams and to be an employer of choice, and together, we’re poised to deliver even greater value and an enhanced service offering to our customers and stakeholders.”
In a joint statement, Leon Capital managing partners Christos Lavidas and Jean-Christophe Napoleon Bonaparte and partner Michael Youtsos, said: “We are thrilled to be partnering with Anna and the rest of the management team in building a truly tech-enabled service provider in UK residential retrofit, and in doing so, do our part in helping reduce fuel poverty and carbon emissions across the country. We are grateful for the team’s trust, and our investment only reaffirms Leon Capital as a partner of choice for founder-owned businesses.”
