London energy group acquires consulting firm in £2.4m deal

A London energy group has announced that it has agreed on the acquisition of a consulting business in a £2.4m deal.

eEnergy Group, an “Energy Efficiency-as-a-Service” (EEaaS) business, is pleased to announce that it has conditionally agreed to acquire Beond Group, a renewable energy consulting and procurement company.

The cash component of the acquisition will be funded through a placing of at least £3m to new and existing investors.

Following the acquisition, the board of eEnergy expects Beond to generate revenue growth at an annual average rate of 22 per cent.

Harvey Sinclair, CEO of eEnergy, commented: “The acquisition of Beond is the next step in our journey to delivering a sustainable future for our clients. Beond’s, a climate action business, leverages award-winning technology to secure the best zero carbon energy supply for their customers.

“With a focus on energy management, their technology will add significant value to eEnergy’s existing client base by helping to make ‘Net Zero’ a reality.

“Beond’s platform is one of a very small number of specialised reverse auction technologies available to customers, securing the best priced zero carbon energy through a highly competitive auction process.

“Beond’s customer base is highly complementary to our own and should provide substantial energy efficiency opportunities for our Light-as-a-Service offering alongside the future “as-a-Service” offerings we intend to bring to market.”

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