Energy firm acquired in £18m Chinese deal

A Skelmersdale-based firm that specialises in energy optimisation has been acquired by the Chinese software giant BONC (Business-intelligence of Oriental Nations Corporation Ltd) for £18.1m.

The deal is subject to approval by Chinese government officials however, when approved, funds will be paid over the next three years based on agreed targets and an aggressive business plan.

Directors Cliff Bradshaw, Kevin Kitching and Stuart Hartley will remain in control of the board of Cotopaxi and have a 5 year contract as the management team.

Founder director, Cliff Bradshaw, said: “BONC is a major organisation with 3000 staff and are focused on the telecom industry. Strategically, they are well placed to develop Cotopaxi further into an international brand.

“In short, we look forward to working with our new parent company for the benefit of our existing and future customers and our staff.” Cotopaxi is now looking to get a larger foothold into the Chinese energy market which is being encouraged to get the most out of its energy use.