ENER-G’s double acquisition drives growth
A RENEWABLE energy specialist based in Salford has bought two engineering businesses in Italy and Romania.
ENER-G has taken majority shareholdings in Milan-based MGM Engineering and Contracting and EnALT Engineering and Contracting, based in Bucharest.
The addition of the two businesses will further strengthen ENER-G’s engineering capabilities in Europe while extending its market presence in Italy and Romania.
Group turnover was £97m to the end of last March and is forecast to reach £126m this year.
MGM and EnALT are power engineering consultancies whose activities include energy consultancy and specialist low carbon engineering projects.
Among MGM’s main customers are well known Italian municipal utilities including Hera, Enia and ACSM as well as major international companies such as Edison, GSK, Pfizer and Radici Group, while EnALT’s principal customers include Dalkia and Radici Group.
ENER-G, which employs more than 800 employees internationally, provides a complete end-to-end solution for all commercial and industrial energy requirements.
This covers every aspect of energy management, including: procurement, metering, control, lighting and building management systems, combined heat and power (CHP) manufacture and operation, geothermal technology, energy from digester gas and new generation energy from waste.
ENER-G already owns Romanian co-generation business ENER-G Technologii Energetice Srl and ENER-G Italia Srl.
Elsewhere, it operates clean energy technology businesses in the UK, Hungary, the Netherlands, Lithuania, Italy, Norway, Poland, South Africa, Mexico and Spain and has partners in Canada, Ireland, Northern Ireland, Portugal and Slovenia.
ENER-G group managing director, Derek Duffill, said: “The acquisition of MGM and EnALT will drive ENER-G’s specialist engineering expertise on mainland Europe and further extend our international reach in the western and eastern European markets.
“In the last financial year, overseas sales amounted to £42 million, while 22.5% of combined heat and power (CHP) systems built at our Salford factory have been used for overseas projects.
“We believe that MGM and EnALT employees will gain substantial benefits from becoming part of ENER-G which has strong financial foundations and will create wider international opportunities and increase the variety of projects undertaken. We look forward to working with them in this new chapter of our history.”
Marco Giudici general manager of MGM said: “I am very much looking forward to working together in what I am sure will be an exciting and prosperous enterprise.
“MGM has value-adding skills and a wealth of experience that will contribute to the group’s ongoing success.”
Antoanela Lungan, country manager of EnALT added: “This transaction will broaden our scope of activities, allowing us to develop as part of the global ENER-G group, which has considerable resources and wide-ranging strategic ambitions.”
ENER-G received legal advice on the Italian deal from DLA Piper in Milan and from Anghel Stabb & Partners on the Romanian transaction.
