British Gas today bought the gas and electricity arms of Connaught Compliance for £11.2m.
The deal will see British Gas Business acquire Connaught’s 600 strong workforce, including around 400 gas and electricity engineers who specialise in the installation, service and maintenance of commercial gas boilers and electrical systems. The takeover also comprises 20,000 customer contracts, mainly in the private sector, and Connaught’s training academy in South Wales.
The buy-up is the fifth acquisitionBritish Gas Business has made in the energy services and management sector in the last two years, the others being BMSi, Semplice Energy, Energy and Building Management Solutions and Newnova Group.
British Gas Business managing director Kanat Emiroglu said: “This acquisition gives us the platform that is needed to develop and rapidly build a complete energy solutions business and accelerates our growth strategy in the business energy services market, which is expected to be worth £2bn by 2015.”