Nottingham energy supplier makes £200,000 mystery acquisition

Nottingham energy provider to businesses, Yü Group, has bought the b2b book of an unnamed Midlands counterpart in a £200,000 deal.

The acquisition will add around 400 meter points to Yü Group’s current meter portfolio of roughly 14,000.

The customer book has been acquired from a mystery Midlands-based group, which is divesting its mains gas supply book to focus on its core activities. The acquired business reported £3m of unaudited revenue for the year ended 31 March.

Bobby Kalar, chief executive of Yü Group, said: “We are delighted to be adding these additional customers to our highly scalable platform.

“We have already successfully migrated the customers with the acquisition being imminently earnings enhancing with no noticeable additional cost to serve. Beyond this, there is further value we can provide our new customers with the additional products and services we offer.

“Following the recent successful acquisition and seamless integration of Bristol Energy, this acquisition clearly demonstrates our abilities to strategically grow our business. We now have a proven template for deals to complement our accelerating organic portfolio. We see a number of further opportunities in the market, and combined with our continued significant organic growth, are excited by the future.”