Inspired Energy acquires fellow Lancashire energy procurement consultancy for £2.25m

Lancashire energy procurement consultant Inspired Energy has this morning (September 29) completed its acquisition of Informed Business Solutions Limited, an energy procurement and environmental services provider targeting large and multi-site corporates.

The Preston-based company is confident that the deal, made for an initial consideration of around £2.25m in cash and shares, will expand its core corporate division and extend its sector specialism.

Informed’s environmental consultancy services division is also expected to add to Inspired Energy’s overall service offer for corporates.

The acquisition saw Inspired Energy pay an initial consideration of £1.75m in cash and issue 3,545,596 new ordinary shares.

Further consideration of up to £2m could be paid by Inspired Energy subject to Informed hitting certain financial performance criteria. This figure would be payable in four installments of up to £500k.

The CEO of Inspired Energy, Janet Thornton, 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.”

She added: “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.”

During the financial year ending December 31 2015 Informed, which is also based in Preston, achieved a revenue of £1.7m and a pre-tax profit of £700k.

This latest deal follows a number of key acquisitions made by Inspired Energy in 2015.