Yü Energy has announced the acquisition of Bristol Energy’s business customers in a deal worth £1.34 million.
The news comes after Bristol City Council, which owns the energy supplier, announced its intention to put Bristol Energy up for sale earlier this year.
Yü Energy will now take forward the energy supply for all Bristol Energy business customers, including existing contracts with the Council.
The acquisition boosts Yü Energy’s portfolio to more than 13,000 meters, after gaining 4,000 business meter points from Bristol Energy.
Bobby Kalar, Chief Executive of Yü Group PLC said: “I’m delighted to welcome Bristol Energy’s business customers to Yü Energy and look forward to maintaining a positive working relationship and continued high levels of service. I’m pleased that we have been able to retain existing B2B staff who will transition as part of the deal.
“Our objective over the coming days will be to successfully transition all of Bristol Energy customers onto the Yü Energy platform in a quick and transparent manner such that it minimises any disruption to the customers.”
Bristol City Council, which also supplies around 100,000 residential customers, is also seeking a buyer for the business.