Inspired's two new purchases take order book beyond £30m
Kirkham-based Inspired Energy has purchased Churchcom Limited and the trade and assets of Flexible Energy Management Limited.Churchcom, which was bought for a £1.4m cash payment, is an energy procurement consultancy operating through two principal divisions, the Church Energy Purchasing Group, which specialises in serving the church sector, and Energy Partners, a growing commercial energy procurement business.
FEML is a public sector energy procurement specialist, servicing a customer base comprising of NHS foundation trusts and hospitals, and academic and sporting institutions, through two NHS sponsored OJEU frameworks. The deal was valued at £2.2m.The two additions combine to take Inspired's order book above £30m for the first time. Funding was provided by Santander, with an additional £3.5m taking the total acquisition facility to £5.1m.
Janet Thornton, CEO of Inspired Energy said: “We are delighted to conclude the acquisition of Flexible Energy Management and Churchcom, which are highly complementary additions to the group’s core corporate division. "These acquisitions broaden our customer base, further enhance our sector specialisms and increase our geographical spread. Following the transactions, the enlarged group’s procurement corporate order book now exceeds £30m, which represents another milestone for the group and gives us great revenue certainty for the short and medium term."