Nottingham utilities firm swoops for south-west counterpart in £2.3m deal
Nottingham-based utilities provider to businesses Yü Group has bought the B2B customer book of Bristol Energy in a deal worth up to £2.3m.
The deal will see around 4,000 meter points to Yü Group’s current meter portfolio of 9,800.
All Bristol Energy staff will transfer over to Yü Group. The firm had been a subsidiary of Bristol City Council.
Bobby Kalar, chief executive of Yü Group, said: “We are delighted to have successfully executed the purchase of Bristol Energy’s B2B Book post extensive due diligence. The transaction allows the Group to layer in a fantastic customer base to our accelerating organic portfolio and increase value by offering additional products and services not available previously.
“This acquisition forms part of our strategic growth plan, leverages our disciplined controls and scaleable technology platform and highlights the Group’s ability and appetite to scale.”