High-flying UK procurement firm M&C Energy is set to be taken over by global specialist Schneider Electric. M&C, which expects to generate total sales of £35 million for the current year, is an attractive prospect, currently having a higher earnings margin than the Schneider Electric average.
Chris Curtis, Schneider Electric’s Executive Vice President, Buildings Business said: “M&C is a bolt-on acquisition that will significantly enhance the Group’s position in energy management services and accelerate our growth in countries where our presence is limited.
“The combination will allow us to connect their supply side expertise with our lead in demand side solutions and generate significant synergies.”
M&C provides energy procurement, compliance and performance optimisation services. The company has an international presence with offices in 15 countries.
The deal is expected to close in the coming months. Schneider says it expects the acquisition to increase their earnings per share.