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11 January 2012 | Helen Gilbert
Strategic outsourcing and energy services company MITIE has acquired energy and carbon management specialist Utilyx Holdings Limited for £16.2 million.
The move will enable MITIE, the second largest energy services company in the UK, to enhance its existing carbon care energy services capabilities – 35 per cent of the group’s revenues are currently derived from its energy services market.
Utilyx, which was established in 2000, purchases a significant proportion of the UK corporate energy market on behalf of clients that span the industrial, commercial and public sectors. Strategic planning, procurement and risk management are among the services it provides, which are designed to manage the business impact of energy consumption and rising energy costs.
In a statement, MITIE described Utilyx – which has annualised revenues of over £7 million – as well placed to support its progress in the UK’s growing energy services sector.
Ruby McGregor-Smith CBE, MITIE chief executive said: “There is no doubt that the need for all organisations to use fewer natural resources is changing our marketplace. Energy management is integral to what we do and this acquisition forms part of our considerable investment to further develop MITIE’s energy services capability.”
Utilyx CEO Chris Bowden, added: “We are excited by the opportunity this presents us and our clients. The energy sector is fast moving and by bringing together our expertise and experience, we will be in an even stronger position to help our clients meet the challenges and opportunities that the new low-carbon economy provides.”
Elsewhere, Greater Manchester-based consultancy Wheldrake Energy has been purchased by Local Green Energy. The company, which advises clients on the procurement of electricity and gas as well as carbon management and bill validation, was acquired for an undisclosed sum.