Partner Article

Manchester’s Energy Assets Group plc acquire SA Gas Engineers Limited

Manchester’s gas metering services provider Energy Assets Group plc have acquired SA Gas Engineers Limited for £4.9 million.

All of the highly qualified team of engineers and technicians will transfer with the business.

The consideration comprises of a cash payment of £3.4 million, 222,108 shares worth £1 million and an earn out consideration of £0.5 million based on future profitability of SA Gas.

Chief executive of Energy Assets, Phil Bellamy-Lee, said: “Energy Assets has built a strong relationship with SA Gas over a number of years, working together on several major projects, and I am delighted to now welcome them fully into the Group in an acquisition that represents another significant step in our growth strategy.

“The strong SA Gas brand and reputation, along with the wealth of acquired expertise, will complement our existing business resulting in further improvements to the service offering and value delivered to our customers.”

Managing director of SA Gas, Karl Simmons, said: “SA Gas has been delivering high quality, innovative I&C gas infrastructure solutions to our customers for many years and has gained an enviable reputation within the industry.

“Our ethos revolves around quality of service and customer satisfaction which has been the foundation of our growth, creating a substantial and loyal customer base.

“We have worked with Energy Assets for a number of years and have developed close working relationships between our respective businesses.

“We are delighted to now have the opportunity to grow the business further by being part of a wider Group.

“This represents a major milestone in the development of SA Gas and gives us access to the support we need to further develop the business.

“By utilising our own in-house expertise alongside Energy Assets resources and specialists we can look forward to further success whilst ensuring continued customer satisfaction.

“We firmly believe that this opportunity offers an exciting future for us all.”

This was posted in Bdaily's Members' News section by Sophia Taha .