Inspired Energy buys procurement company in deal worth up to £4.25m
Kirkham-based Inspired Energy has bought Informed Business Solutions, an energy procurement and environmental services provider, for an initial £2.25m.The deal could increase in value by another £2m based on financial performance up to 2018.
Informed Business Solutions, also of Kirkham, made £700,000 profit on turnover of £1.7m last year, with a strong presence in the multi-site retail and leisure markets for energy procurement.As part of the deal, Inspired receives a ‘Procurement Corporate Order Book’ worth £28.8m.
Janet Thornton, CEO of Inspired Energy, said: “We are delighted to conclude the acquisition of Informed which is a highly complementary addition to the group’s core corporate division. The acquisition broadens our customer base, further enhances our sector specialisms and strengthens our service offering within environmental consultancy.“We look forward to working closely with the highly experienced and knowledgeable team of Informed and welcoming them into our core corporate division as we seek to advance our position as a market leader.”