Inspired energy receives cash offer from major shareholder Regent
Inspired PLC, the AIM listed energy and sustainability advisor has received a cash offer from Regent for approximately £109.35 million.
Regent Group has been a significant, long-term shareholder in Inspired, having first invested when the Company floated on AIM in November 2011.
Regent Group, which was established in 1995, is a leading supplier of gas and metering services to industrial and commercial customers in the UK. The wider Regent Group provides services to large consumers of gas across a range of sectors including, leisure, care homes, manufacturing, food production and retail.
Regent intends to make the business more efficient, but will retain its AIM listing.
It said in a statement: “The Wider Regent Group has historically been a supportive shareholder; however it has believed for some time that the Inspired Group’s debt levels are too high and has raised concerns for some time, including by voting against the payment of the final dividend at the Company’s Annual General Meeting held on 28 June 2024.”
The Lancashire headquartered ESG advisory firm completed a £26.66 million fundraising with institutional investors raising £21.25 million on the AIM Market earlier this year in order to strengthen the company’s balance sheet and support its pipeline of projects in its Optimisation division to reduce energy consumption and carbon emissions for c.130 customers.
