Fylde-based Inspired Energy has completed the acquisition of Squareone Enterprises Ltd, a provider of energy procurement, energy management and water procurement services, for an aggregate consideration of up to £1.3 million.
Squareone is based in Boldon, Tyne and Wear, close to the head office of Churchcom Limited, a company acquired by Kikrham-based Inspired in April 2017.
Squareone provides energy consultancy and procurement services to a range of corporate customers, with a strong presence in the education and manufacturing sectors.
Squareone was founded in 2004 and provides energy procurement, energy management and water procurement services to UK corporates, and has been recognised in the sector for excellent customer service.
The Inspired Energy board believes that the acquisition will complement Inspired’s core Corporate Division and further enhance the group’s sector specialism.
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Mark Dickinson, CEO of Inspired Energy said: “We are delighted to conclude the acquisition of Squareone, which is a highly complementary addition to Inspired’s core Corporate Division.
“The Squareone team are well respected within the sector, and were deservedly recognised as such at the 2018 Energy Live Consultancy Awards. The Acquisition further enhances our customer base and strengthens our sector specialisms.”
He added: “We look forward to working closely with the highly experienced and knowledgeable team of Squareone and welcome them into our core Corporate Division as we continue to advance our position as a market leader.”
Inspired Energy was recently ranked in first place in the Cornwall Insight I&C TPI index rankings out of 111 TPI’s shortlisted, reaffirming the Group’s position as a market leader.
For the year ending March 2018, Squareone delivered revenues of £0.5 million, EBITDA of £0.25 million, and generated operating cash of £0.23 million.
Net assets as at March 31 stood at £0.1 million.