US firm Energy Services Group has acquired UK-based Utiligroup for a reported £100m.
The Lancashire firm provides data management and software to energy companies around billing and wholesale services as well as sales and pricing. Its ‘supplier in a box’ solutions have helped a number of small energy suppliers enter the market, and it is involved with several local authority energy companies.
Energy Services Group is backed by US private equity group Accel-KKR, which is beefing up its energy technology holdings. Last year it acquired US energy data firm Latitude Technologies. The Utiligroup acquisition gives the operation a more global footprint, with operations in the US, Japan and the UK, which ESG said gives energy suppliers and resellers greater geographical opportunities.
The UK entity will continue operations as Utiligroup, and CEO Matthew Hirst will remain at the helm of the UK business, reporting to Phil Galati, ESG CEO. Hirst will also join the board of directors of ESG.