Inspired, an energy procurement consultancy, has conditionally agreed to acquire Inprova Finance Limited (IFL) for £19.5 million in cash from Inprova Group Limited .
Inspired proposes to raise up to £19 million by way of a conditional placing of 115,151,516 new Ordinary Shares at 16.5 pence per Ordinary Share to finance the balance of the Consideration and associated advisory fees relating to the Acquisition.
IFL provides energy procurement and consultancy services to its help it customers buy energy efficiently and monitor and reduce their carbon footprint. The company has access to 19,000 meter points through over 1,000 customers. It operates in four main sectors – data centres, social housing, education and construction.
In the year ended 30 June 2018, IFL had revenues of £7.8 million and EBITDA of £2.9 million; at 30 June 2018, IFL’s order book stood at c.£11.6 million
Commenting on the proposed acquisition, Mark Dickinson, Chief Executive Officer of Inspired, said: “We are delighted to have agreed the acquisition of IFL and its group of energy businesses. This acquisition provides an opportunity to drive further growth from Inspired’s established platform and deliver value creation, both strategically and operationally, in addition to strengthening the Group’s position as a leading TPI in the UK and Ireland. We look forward to working with the team as we continue to accelerate our next phase of growth.”
In April 2015, Fusion completed the sale of two business to Inprova Group in two days: Two Fusion Deals in Two Days: The sale of energyTEAM and ENER-G Procurement – full story
UK, Kirkham, Lancashire & Warrington, Cheshire
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- 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
- UES Energy acquired by Inprova Group Posted on September 17, 2015
- 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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