Inspired Energy has acquired fellow TPI Squareone in a £1.375m deal.
Squareone, based in Boldon, Tyne and Wear, provides energy and water services to clients in the I&C and education sectors.
The business makes a healthy margin: revenues in the year to 31 March 2018 were £0.5m. From that, earnings before interest, taxes, deductions and amortisation (ebitda) were £0.25m, and the firm generated operating cash of £0.23m.
Inspired Energy CEO, Mark Dickinson said Squareone was “highly complementary” to its corporate operation.
“The Squareone team are well respected within the sector, and were deservedly recognised as such at the 2018 Energy Live Consultancy Awards,” where the company won the customer service award.
“The acquisition enhances our customer base and strengthens our sector specialisms,” added Dickinson.
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