M+C makes fourth acquisition in a year

M&C Energy Group will raise its turnover to more than £40m following its acquisition this week of Oldham-based energy consultancy Utility Masters. The deal marks the fourth buy-up M&C has […]

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By Kelvin Ross

M&C Energy Group will raise its turnover to more than £40m following its acquisition this week of Oldham-based energy consultancy Utility Masters.

The deal marks the fourth buy-up M&C has made in the past year and is a further stage in its “aggressive growth strategy”.

Dunfermline-based M&C now manages more than £6.25bn of energy consumption each year for 3,500 of the world’s largest energy users.

Utility Masters’ founding partners, Jim McGhie, Shaun McClarnon and Kevin Whaites, will all join the M&C team.

Mr McGhie said: “M&C’s global reach will bring significant benefits to our clients, many of whom require an integrated energy service across many sites worldwide.My partners and I are looking forward to working with M&C to drive forward this strong business.”

M&C chief executive Simon Northrop said: “Utility Masters is a well respected energy consultancy with significant expertise in supply management.This company is a natural fit for our business and supports M&C’s aggressive growth strategy.”

He added that “as the energy consultancy business matures, there will be less of an opportunity for smaller players to compete effectively with the services and product range offered by large international consultancies such as M&C”.

“Our aim is to become a major global provider of energy management services and we are working on a number of further acquisitions, both in Europe and globally, to enable us to deliver on this objective.”