Inspired Energy acquires competitor for £4 million

5 April 2012

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5 April 2012 | Adam Leach

Inspired Energy is to acquire rival Direct Energy Purchasing (DEP) in a £4 million deal.

Announcing the agreement to acquire the company, Inspired explained the takeover would give it greater access to the healthcare and specialty retail sectors and will also increase average size of its clients. Both firms are based in Lancashire and provide energy procurement and management services.

In a statement Janet Thornton, managing director of Inspired Energy, said: “The acquisition of DEP increases the breadth of our target customer base and brings operational benefits including increasing our supplier diversification and providing a platform for increased real-time reporting.”

Thornton added that that DEP’s existing customers, which include Kwik-Fit, The Garden Centre Group and The Original Factory Shop would see the benefits of the combined buying power of the two companies. Inspired clients include Bombardier, Pittards and Zarlink Semiconductor.

The deal is in line with the strategy plan the company outlined in November to build the company through “continued organic growth and strategic acquisitions”.

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