Livingston-based Energy Assets plc has taken over the BGlobal Metering business in a deal worth £2.3 million.
Based in Blackburn, BGM is a wholly owned subsidiary of Bglobal plc and provides advanced metering technology to the UK I&C electricity sector.
This includes the supply and installation of smart electricity meters, meter operator services (MOP), and the ongoing collection and aggregation of energy data (DCDA). BGM is a fully accredited MOP and DCDA and provides MOP services to utility companies for circa 60,000 meter points and DCDA services for in excess of 90,000 meter points.
Following completion of the transaction, Energy Assets will provide management services for circa 161,000 meters and will retrieve data from circa 152,500 meter points across the combined gas, water and electricity sectors.
Phil Bellamy-Lee, Chief Executive of Energy Assets, commented: ”This deal enables Energy Assets to expand its presence into the electricity sector and is a significant step in the delivery of the Group’s strategy to offer services across a multi-utility platform.
“With continued focus on delivering value added services to the expanded utility and commercial client base, this acquisition also provides the Group with further opportunities for growth as well as enhancing our market position and increasing shareholder value in the near term.”
Meanwhile, Energy Assets has appointed Vickie Gibson to the new position of Managing Director.
She takes up new post having served as the company’s Head of Data Integrity for the last year and will be responsible for the delivery of Energy Assets’ services covering gas infrastructure works, metering and automated meter reading.