Energy Broker Pulse has been acquired by business communications firm Arrow for an undisclosed sum.
Pulse, owned by Ben Dhesi and wife Purdeep Kang, made a profit after tax of £577,982 in the year to 30 September 2015, according to Companies House filings, up 220% on the previous year.
The company has notched up significant growth in recent years. It was founded in 2009 by Dhesi and Dorian Nineberg, with Dhesi acquiring Nineberg’s shareholding in August 2015.
That year the firm won The Energy Buyer of the Year award at the UK Energy Awards and followed up in 2016 with the the Technology, Internet & Controls Innovation of the Year at the UK Energy Awards for its POD digital energy management platform.
The deal is Arrow’s eighth acquisition in the last seven years and, according to the firm, makes Arrow one of few companies in the UK able to provide a full energy, telecoms and IT consultancy.
The company, which last year, received investment from private equity company Growth Capital Partners, looks set to continue that buy-build strategy, with the deal including a “significant” acquisition fund.
“We identified the energy market as a strategic opportunity a while ago but wanted to partner with a company whose ethos and values were similar to Arrow’s,” said CEO Chris Russell. “Pulse provides a unique level of service and consultancy and this is reflected in their loyal customer base.”
Pulse will operate as a separate business unit and its employees will continue to look after their customers.
“We are excited by the opportunities that working with Arrow will bring,” said Dhesi. “Both companies seek to differentiate themselves by providing sound advice and quality products and a service that customers can rely on”.
Arrow has some 4,000 customers that it can now target to sell energy services.