Inprova Group has bought two non-domestic energy brokers, energyTEAM and ENER-G Procurement. The procurement outsourcing company said both firms will be rebranded as it bids to become a power player in the third party intermediary (TPI) market.
Inprova said wrapping the two brokers into the business triples its workforce and makes it one of the UK’s top ten non-domestic energy TPIs. The company outlined plans for further aggressive growth with further acquisitions likely.
West Sussex-based energyTEAM employs 60 staff and handles clients including Virgin Atlantic, Hotel du Vin Group and fashion retail chain White Stuff.
Warwickshire-based ENER-G Procurement was acquired from the ENER-G Group. Its 52 staff will all transfer over to Inprova.
The group’s chief executive, Paul Kennedy, said the deal gave the group greater buying power and opportunities to offer clients more varied services.
“Inprova Group will be turning over in excess of £12m per year following these two acquisitions. My aim is to at least double this figure over the next two to three years,” said Kennedy. “We’ll do this through our strong customer base in existing markets, which offers significant growth opportunities and also by continuing our ambitious UK and international expansion strategy.”
The company said it was currently in advanced discussions with a US based partner regarding the roll-out of a national procurement solution in specific vertical markets. Inprova is also looking to acquire more energy market companies as well as procurement technology businesses.