Inspired Energy announces bolt-on acquisitions

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Inspired Energy PLC(LON:INSE) has completed the acquisitions of BWS Holdco (Businesswise) and General Energy Management (GEM).

The consultant for energy procurement, utility cost optimisation and legislative compliance in the UK and Ireland said it corporate order book has risen above £73mln as a result of the acquisitions, which are expected to enhance earnings in fiscal 2021.

Inspired Energy said there are substantial contingent considerations in place to incentivise the vendors to deliver future growth.

“We are delighted to conclude the acquisition of Businesswise and GEM, which are highly complementary additions to the group. Both acquisitions increase our market share for Energy Assurance services, broaden our customer base and significantly increase our units of opportunity,” said Mark Dickinson, the chief executive officer of Inspired Energy.

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