Inspired Energy acquires Flexible Energy Management and Churchcom 

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Inspired Energy has acquired the trade and assets of Flexible Energy Management Limited and 100% of the shares in Churchcom Limited.

Flexible Energy Management Limited (FEM)

Founded in 2012 , FEM is a public sector energy procurement specialist, servicing a customer base comprising of NHS foundation trusts/hospitals and academic and sporting institutions, through two NHS sponsored OJEU frameworks*. The business is based in Manchester, the two Directors of FEM have over 20 years’ experience in the NHS. 

Inspired are paying £2.2 million in cash for FEM and in addition will issue of 2,993,653 new ordinary shares to the shareholders, who will remain with the business. For the financial year ended 31 March 2016, FEM delivered revenues of £0.65 million, EBITDA of £0.47 million and generated operating cash of £0.47 million.

Churchcom Limited

Churchcom is an energy procurement consultant based in Peterlee, County Durham. Churchcom operates under two trading divisions, Church Energy Purchasing Group, which specialises in energy procurement for churches and Energy Partners, offering energy procurement services for commercial customers, complementing Inspired’s core Corporate Division.

Inspired are paying £1.4 million in cash for Churchcom. For the financial year ended 31 January 2017, Churchcom delivered revenues of £0.64 million, EBITDA of £0.35 million and generated operating cash of £0.47 million. Net assets as at 31 December 2016 stood at £0.24 million. The founder directors of Churchcom have sold the business in order to retire and will leave after a handover period.

Commenting on the acquisitions, 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. “

The acquisitions are being financed from the Group’s existing financial resources, with funding provided by an extension to the Group’s existing £3.5 million acquisition facility with Santander to £5.1 million.

* OJEU frameworks are framework agreements which govern the procurement process for Public Sector Bodies with the intention of improving the effectiveness of the tender process. The frameworks are subject to the rules of Regulation 33 of the Public Contracts Regulation 2015 which transposes Article 33 of Directive 2014/24/EU.

UK, Kirham, Lancashire & Manchester & Peterlee, County Durham

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ZPG Plc acquires Expert Agent

zpgZPG Plc has acquired Expert Agent. The terms of the deal were not disclosed. 

Established in 2003, Expert Agent provides cloud-based software solutions and systems for the day-to-day management of inventory, marketing and communications for estate agents and lettings agents across the UK. 

expertagentUntil February 2017 ZPG Plc was called Zoopla Property Group Plc. The company is already the owner of Zoopla, uSwitch, PrimeLocation, Hometrack and Property Software Group.

Expert Agent will continue to operate as a standalone platform and brand and the team will become part of the Property Services division of ZPG.

Mark Goddard, Managing Director, ZPG Property Services said, “This acquisition helps us continue to enhance the services we offer to UK property professionals, including software and CRM, digital marketing and data insight tools. We will integrate our MoveIT and MyPropertyFile products into the Expert Agent platform in time to provide its members with a range of new revenue opportunities. Our ambition is to be the most effective partner to the UK property industry and this deal is another step towards that goal. We look forward to welcoming Mike and his team to the ZPG family.”

UK, London

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CLEAResult acquires Green Team Energy Services

clearesult_logoCLEAResult, a provider of energy efficiency services in North America, has acquired Green Team Energy Services, a provider of digital, cloud-based energy efficiency and demand side management (DSM) software that leverages the Salesforce.com CRM platform. The terms of the deal were not disclosed.

dsmtracker_4302013Green Team’s cloud based software, DSMTracker, will be incorporated into CLEAResult’s residential, commercial and industrial, and marketing offerings. CLEAResult will also offer DSMTracker as a standalone software platform. Several utility companies, including Duke Energy and Alameda Municipal Power, have adopted DSMTracker to automate key aspects of their DSM programs, including program planning and design, marketing, tracking, execution, electronic rebate processing, document management and reporting.

 

Green Team was founded in 2013 and is headquartered in Atlanta. All of Green Team’s employees will join CLEAResult.

“As our clients’ industry evolves, leading-edge technology applications for energy efficiency have taken on tremendous importance in terms of creating differentiated experiences and customer growth,” said Aziz Virani, CLEAResult CEO. “This technology investment will allow us to further increase the value we are able to create for our clients as the leading provider of energy efficiency programs, and reflects our continued commitment to bring innovative technologies and capabilities that will help our utility clients succeed.”

 

USA, Austin, TX & Atlanta, GA

The Anthesis Group acquires energy and carbon management solutions provider Sustain

anthesis-logoThe Anthesis Group, a sustainability services and solutions provider, has acquired Sustain, the Bristol-based energy and carbon management solutions provider. This is the tenth acquisition since the formation of Anthesis in September 2013. The terms of the deal were not disclosed.

Sustain is a UK energy and carbon management company dedicated to providing cost and carbon efficiencies. Through a team of expert engineers, consultants and project managers Sustain design, deliver and manage energy resources for clients in public and private sector organizations.

Stuart McLachlan, CEO of Anthesis Group, said “Joining forces with Sustain allows us to enhance the Group’s offering in the energy efficiency market, an area where we are seeing particular growth. We are now able to support our clients in the end-to-end design and implementation of energy and carbon management projects”; he continued “there are great synergies for Anthesis and Sustain, with strong alignment between our delivery ethos and driving business value through sustainability.”

Tobias Parker, Managing Director of Sustain remains with the company and will join The Anthesis Group board.

UK, Oxford & Bristol

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Inspired Energy acquires Informed Business Solutions

inspired-logo3Inspired Energy PLC has acquired Informed Business Solutions Limitedan energy procurement and environmental services provider, for an initial consideration of approximately £2.25  in cash and shares. Informed Business Solutions provides its services provider to large and multi-site corporates. It has a particularly strong presence in the multi-site retail and leisure markets.  Both companies are based in Kirkham, Lancashire.

Inspired are paying an initial consideration of £1.75 million in cash and issuing 3,545,596 new ordinary shares to the shareholders of Informed. Deferred consideration of up to £2.0 million may also be paid subject to financial performance criteria based on both the contracted order book and revenue for the financial years ending 31 December 2017 and 2018. The Deferred Consideration will be payable in four tranches of up to £0.5 million each.  Two tranches, in relation to the financial year ending 31 December 2017, will be payable in July 2017 and February 2018.  A further two tranches, in respect of the outturn for the year ending 31 December 2018 will be payable in September 2017 and July 2018. 

The directors of the business will remain with the enlarged group. Their shares are subject to a 12 month lock-in and orderly market provisions for a further 12 months from the date of admission.

For the audited financial year ended 31 December 2015, Informed delivered revenues of £1.7 million, EBITDA of £0.7 million, pre-tax profits of £0.7 million and generating operating cash of £0.8 million. Net assets as at 31 December stood at £0.5 million. 

Commenting on the Acquisition, 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.”

UK, Kirkham, Lancashire

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Centaur acquires specialist marketing consultancy Oystercatchers for £3.35M

centaur-logoCentaur Media Plc has acquired Oystercatchers LLP for £3.35 million. Oystercatchers is a consultancy helping brands to accelerate their marketing performance. 

Centaur is paying up to £3.35 million for Oystercatchers, with £2.2 million payable on completion. The deferred consideration is contingent on results, including  EBITDA for the 12 month period ending on 31 March 2017. All consideration is payable 75% in cash, 25% in Centaur shares with a two-year lock-in period on the shares. Completion is targeted for 1 October 2016. 

Oystercatchers’ founders of Suki Thompson and Peter Cowie, and senior management team will remain with the business and Suki Thompson will join the Centaur Executive Committee. 

Oystercatchers’ turnover has grown from £1.1million in the year to 31 March 2012 to £3.4million in the year to 31 March 2016. In the year to 31 March 2016, Oystercatchers made a profit before tax of £0.6m and had gross assets of £1.1m as at that date. 

Andria Vidler, CEO of Centaur Media commented, “This acquisition is a win-win for our businesses. The combination will enable Centaur to become the “go to” provider for brands seeking to drive its marketing performance. This kind of specialist acquisition is a good example of how Centaur will seek to accelerate its presence in its chosen market sectors. ”  

UK, Londo

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Bellrock completes five acquisitions – Concerto, Stanley Hicks, Property Solutions, Dawn and RBK Mechanical

Property and facilities management business Bellrock has completed five add-on acquisitions in just three months.

The company has acquired Concerto, Stanley Hicks, Property Solutions, Dawn and RBK Mechanical

Leicester based Bellrock is backed by private equity firm Lyceum Capital. The terms of the deals were not disclosed.

The acquired businesses:

  • Concerto, a software business focussed on the Facilities, Property and Asset management space. Concerto’s software will continue to be sold on a stand-alone basis and is also being integrated into Bellrock’s core operations.  Concerto adds contracts from the Public Sector and retailers such as John Lewis and Poundland.
  • Property Solutions, consultants on commercial service charges for properties. The acquisition will add blue chip companies such as BT, WPP and Lloyds Banking Group to its client list.
  • Stanley Hicks, a firm of Chartered Surveyors, offering commercial property advice. Established for over 100 years, Stanley Hicks has relationships in the non-profit and education sectors.
  • Dawn, facilities management business with long-term public sector Facilities Management contracts.
  • RBK Mechanical, carries out nationwide heating ventilation and air-conditioning (HVAC) maintenance.

Jeremy Hand, Managing Partner of Lyceum said, “Bellrock continues to disrupt the Property and Facilities Management space, offering its customers a radically improved service.  We are excited about Bellrock’s future following its recent acquisitions, together with potential add-ons that are in the pipeline, as well as further planned organic investment.”

David Smith, CEO, Bellrock added: “Our recent acquisitions continue the transformation of Bellrock and further help in the delivery of a whole new customer experience. Lyceum’s continuing vision and support were instrumental in bringing these acquisitions to fruition.”

UK, Leicester