Procurement company Inspired Energy has completed the acquisition of Ignite Energy in a deal worth £11 million.
The company is taking over the outstanding 60% of Ignite Energy that it didn’t already own.
The latter company provides management services to business customers and helps them reduce their energy costs.
Mark Dickinson, CEO of Inspired Energy said: “We are delighted to welcome Ignite to the Group as a wholly-owned subsidiary and look forward to accelerating the growth of the Group’s optimisation services by maximising the cross-selling opportunities it will present. The immediate focus is on fully integrating Ignite into the Group, whilst continuing to appraise the other M&A opportunities available to management.
“Completion of the acquisition combined with our assurance service for customers really sets Inspired Energy apart as a leader in utility cost optimisation and legislative compliance to corporate energy consumers.”