Warrington-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.
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. Last year leading mid-market private equity house LDC invested in the business to help support Inprova’s future growth plans. The firm already procures more than £0.5bn of goods and services per year for clients in the logistics, private equity, health, local government and housing markets and provides a wide range of outsourcing, consultancy and technology services.
UES Energy was launched in 2003 and since then it has grown a client base that covers locations across the UK in a number of sectors including manufacturing, food, education, service and leisure. Clients include companies that are major utilities themselves, such as National Grid plc and Wales & West Utilities, along with G4S, Celtic Manor Resort, PHS Group, Zodiac Aerospace and Wiley publishing group.
UES Energy procures and manages over £150m of energy contracts on clients’ behalf and turnover is expected to be in excess of £2m this financial year. The firm analyses energy prices, validates utility bills and reports on energy usage to deliver value to client organisations.
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.