Growing Lancashire firm Inspired Energy plc has taken over two other companies as it continues its expansion.
The Kirkham-based company has acquired Simply Business Energy Limited and KWH Consulting Limited.
The firm says the two Worcester-based businesses complement the group’s EnergiSave division and will form part of an enlarged division providing small and medium sized businesses with competitive energy contracts from a variety of suppliers.
Inspired has bought KWH for £300,000 in cash, of which £50,000 is deferred until January 2015. The consideration for SBE comprises 2,000,000 shares in Inspired.
Up to a further £300,000 of shares in Inspired can be earned by the vendors based on the financial performance of Simply in 2015 and 2016.
Janet Thornton, managing director of Inspired, said: “Following the initial rapid growth we experienced with the launch of EnergiSave in mid 2013, this new business stream has delivered strongly for the business and we are delighted to have further strengthened our service offering for our growing SME customer base.
“These acquisitions complement the strong platform we have established this year and we looking forward to integrating their teams into the Inspired Group.”
Inspired Energy plc was founded in 2000 by Janet Thornton and has continued to expand its client base The Inspired Group currently manages and negotiates gas and electricity supply agreements on behalf of around 3,200 customers – corporate and small businesses – across the UK in a broad range of sectors.
Through optimising energy procurement on behalf or its clients Inspired can deliver significant savings