Inprova Group has acquired UES Energy, a procurement outsourcing service company based in Caerphllly, Wales. The terms of the deal were not disclosed.
UES Energy was founded in 2003 by Andrew Padmore. Andrew Diplock joined him a few months later. Andrew Diplock, Managing Director and Gruff Dodd, Finance and Operations Director later led a management buy-out; and at the time of the acquisition, were the main shareholders. Andrew Diplock and Gruff Dodd will join the senior leadership team at Inprova’s energy division.
The company has built a significant client base across the UK in areas like manufacturing, food, education, service and leisure. It procures and manages over £150m of energy contracts on clients’ behalf, with an expected turnover of over £2m this financial year.
The deal, funded through a debt facility from Barclays, follows Inprova Group’s acquisition of two non-domestic energy brokers, energyTEAM and ENER-G Procurement, in April. The two have since been integrated into Inprova’s new energy division, branded energyTEAM. UES Energy will become part of the energy division over the next 12 months.
Paul Kennedy, Inprova Group Chief Executive, said: “This deal further consolidates Inprova’s growing energy services offer and brings us closer to our ambition to be among the top five TPIs in the country. UES Energy complements the world class services, expertise and knowledge we already have in our new energy division and will enable us to continue to expand our service offer to existing customers and reach new markets.”
UK, Caerphllly, Wales
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- Fusion Deal: energyTEAM sold to Inprova Group Posted on April 15, 2015
- Fusion Deal: ENER-G Procurement sold to Inprova Group Posted on April 15, 2015
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