Energy Assets, Britain’s leading independent provider of industrial & commercial (I&C) metering services, has reached agreement to acquire Exoteric including a meter and data logger portfolio of over 30,000 assets.
The purchase brings the total number of assets under the ownership and management of Energy Assets to circa 550,000 and creates an opportunity to expand the group’s relationships with major energy providers.
Exoteric was the first OFGEM-approved independent meter asset manager (MAM) in 2004. It has relationships with all of the UK’s major energy suppliers and provides a comprehensive range of services including meter installations and siteworks for utility projects as well as data collection and management services.
The acquisition will further expand the opportunity available to Energy Assets’ specialist multi-utility network construction division – Energy Assets Utilities – through developing the utility connections activity and excellent reputation currently attributed to Exoteric in the I&C sector.
Commenting on the acquisition, Philip Bellamy-Lee, Chief Executive Officer of Energy Assets, said:
“Exoteric is a strong strategic fit for Energy Assets with both organisations being market leaders in their fields of expertise and having gained reputations for service quality and excellence in the sector. The acquisition enables immediate expansion of our existing asset portfolio whilst providing additional growth opportunities through new relationships with customers served by Exoteric.
This agreement significantly strengthens our position as Britain’s leading independent I&C meter asset manager.It will be business as usual for the customers of Exoteric, who can look forward to a continuation of the same high standard of service received through their existing relationships, whilst at the same time gaining access to the wide range of multi utility products and services available through the business being part of Energy Assets Group.”
Energy Assets has gained a reputation for excellence in offering utility suppliers and end-user consumers of energy a broad spectrum of multi-utility metering services. The company also enables customers to collect and analyse energy consumption data through its AMR systems and provides a suite of control technologies to drive energy efficiency and carbon reduction.