Acquisition of a Gas and Power Meter Installation Company
Enterprise, the infrastructure maintenance support services company, announces that it has purchased the gas and power meter installation and support operations of United Utilities Group plc (UU).
The UU meter business currently procures and fits around 330,000 meters each year and subsequently manages the devices. It is located mainly in the Midlands and the North of England. This work is performed on behalf of a number of large utility companies. Enterprise currently installs gas and power meters, predominantly in the North of England and Scotland
This acquisition, which follows smart meter installation contract awards to the Group from OnStream and Bglobal will improve the Group’s competitive strengths and its position in the meter installation market. The installation market offers significant potential over the next decade as the government led roll-out of smart meters gathers pace. Smart meters are an essential part of the Government’s carbon reduction programme and its fuel poverty and Green Deal initiatives.
The transaction involves the acquisition by Enterprise of the operational and training headquarters of the business, both of which are based in Manchester together with some 500 employees, the majority of whom are skilled meter installers.
Neil Kirkby, Group CEO of Enterprise stated “This acquisition is an important part of our plans to increase the range and scale of services we provide to the Utility industry and it accelerates our expansion into the market for energy management. This acquisition will increase our ability to serve our customers in the UK meter installation services market.
We are pleased to welcome to Enterprise the employees of the UU meter business and look forward to its successful integration into the Company”
Stephen Rawlinson, Enterprise 07785 326727
Nick Oborne, Weber Shandwick 020 7067 0700
Categories: Contract, Marketplace, Finance