A procurement services company has bought two energy brokers.
Inprova has bought energyTEAM and ENER-G Procurement, its first buys since its launch. The non-domestic brokers were bought for an undisclosed sum.
ENER-G Procurement is based in Warwickshire and its 52 staff will come under the Inprova wing, while energyTEAM, in West Sussex, will also transfer its 60 staff to Inprova.
Both deals have been funded through a debt facility from Barclays and will be re-branded to form a large energy broker division.
Paul Kennedy, Inprova Group Chief Executive said: “The integration of these two businesses into the Inprova Group will enable us to negotiate better energy prices.
“Inprova Group will be turning over in excess of £12 million per year following these two acquisitions. My aim is to at least double this figure over the next two to three years.”
The company already provides services across the private and public sector, procuring £500 million worth of goods and services per year for clients.
The company are looking for more energy market companies.