BIRCHWOOD-based procurement outsourcing service company Inprova Group has bought UES Energy to further expand its energy services offer.
UES Energy, based in Caerphilly, near Cardiff, has been purchased from its two owners for an undisclosed sum.
Both main shareholders, Andrew Diplock and Gruff Dodd, will join the senior leadership team within Inprova’s fast-growing energy division.
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.
“This is a critical and complex area of spend for so many organisations and it is vital that they can access leading edge services for support.
“Acquiring UES Energy and welcoming Andrew and Gruff to the business is the latest step towards establishing Inprova Group as an international force in the procurement markets.”
The move will consolidate Inprova’s position as one of the UK’s leading energy procurement consultancies and further its aim to be a top five third party intermediary (TPI) for energy brokerage.
Inprova Group’s latest purchase forms part of ambitious plans to at least double the size of its business over the next two to three years and further acquisitions are planned.
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, tripling the company’s workforce.
UES Energy, which has 20 staff, will also become part of the energy division over the next 12 months.
It was launched in 2003 and procures and managers over £150m of energy contracts on clients’ behalf and turnover is expected to be in excess of £2m this financial year.
