eEnergy has announced the sale of its energy management division to Flogas Britain Limited in a deal valued at £29.1 million.
The agreement also includes additional contingent consideration linked to the trading performance of the energy management division until 30th September 2025.
Pending shareholder approval, this transaction is expected to provide eEnergy with “significant immediate cash”, representing approximately 90% of the company’s current market capitalisation.
Ivan Trevor, Managing Director, Flogas Britain commented: “Flogas are delighted to welcome the Energy Management Division of eEnergy Group plc to DCC Energy.
“Together with Certas and the recent acquisitions of Protech, Centreco and DTGen, this acquisition further expands our capability in energy management services, providing a comprehensive range of products and services to partner with our customers on their journey to net zero and supporting our ambition to halve the carbon emissions of the energy we supply by 2030.”
