Inspired Energy has acquired Squareone Enterprises Limited in a deal worth up to in a £1.375 million. Squareone is a provider of energy procurement, energy management and water procurement services with a strong presence in the education and manufacturing sectors.
Inspired are paying £0.75 million in cash, plus an earn out of up to £0.625 million based on revenue targets for the 12 month periods ending 31 March 2019 and 2020.
In financial year ending March 2018, Squareone had revenues of £0.5 million, EBITDA of £0.25 million, and generated operating cash of £0.23 million. Net assets as at 31 March 2018 stood at £0.1 million.
Commenting on the acquisitions, Mark Dickinson, CEO of Inspired Energy said: “We are delighted to conclude the acquisition of Squareone, which is a highly complementary addition to Inspired’s core Corporate Division. The Squareone team are well respected within the sector, and were deservedly recognised as such at the 2018 Energy Live Consultancy Awards. The Acquisition further enhances our customer base and strengthens our sector specialisms.”
The business is based in Boldon, Tyne and Wear, close to the head office of Churchcom Limited, a company acquired by Inspired in April 2017. Michael Harkus, co-founder and Managing Director of Squareone, will remain with the Group after completion.
UK, Kirham, Lancashire & Boldon, Tyne and Wear
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- Inspired Energy acquires Flexible Energy Management and Churchcom Posted on April 20, 2017
- Inspired Energy acquires Informed Business Solutions September 29, 2016
- Inspired Energy acquires STC Energy and Carbon Holdings Posted on November 18, 2015
- Inspired Energy plc – Results for year ended 31 December 2013 Posted on March 24, 2014
- Inspired Energy acquires Simply Business Energy and KWH Consulting Posted on March 18, 2014
- Inspired Energy plc – results for the 12 months ended 31 December 2012 Posted on March 20, 2013
- Inspired Energy plc trading update for the financial year ended 31 December 2012 Posted on February 4, 2013
- Inspired Energy acquires Direct Energy Purchasing Limited and raises £1M April 16, 2012