Bulletin

Energy Assets prepared to use £5m to fund acquisitions

The chief financial officer of Energy Assets has underlined the meter specialist's appetite for acquisitions and said the company could use all of a new £5 million credit facility from Santander to fund deals. John McMorrow said Livingston-based Energy Assets is on the lookout for further purchases as the company feels the benefit of two takeovers completed in recent months. He said the company wants to grow its 7% share of the market for providing smart gas and electricity meters to business users after growing first half profits by 30%. With £5.1m cash at September 30 and £33.5m undrawn facilities with other lenders, the firm has around £44m funding in place. It said the underlying business had performed well since the period end and it remained confident of winning new work with major utility suppliers.

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

 

Other Articles

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Spain

Santander takes 12 UK food and drink manufacturers to Spain on one of our successful trade missions. Adam Payne in the international team…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

Getting a taste for Spain!

Santander takes 12 UK food and drink manufacturers to Spain on one of our Trade Missions. Alicia Ferrero Vega in the International team…

Bulletin

Where Next?