Energy Assets Group (EAG) is pleased to announce the acquisition of Yorkshire-based Future Energy Group. The acquisition will strengthen EAG’s existing nationwide multi-utility network design and construction division and complement its strategy to adopt gas and electricity network assets.
Future Energy Group (FEG) will become part of Energy Assets Utilities (EAU) division, expanding EAU’s capacity and geographical reach to serve multi-utility network customers throughout Britain. FEG will continue to trade under its current name.
FEG is based in Batley and provides a range of services through its subsidiaries Future Utility Solutions, Future Metering Services and Future Plant Services. FEG has grown into a leading utilities infrastructure provider, designing and constructing gas, electricity and water networks for contractors, transporters, operators and consumers across the UK. Its industry accreditations (GIRS, NERS, WIRS), quality-assured performance and innovations in customer service have enabled the company to build a customer base across residential, industrial and commercial market sectors.
Comments Colin Lynch, Chief Executive Officer, Energy Assets Group:
“We are very excited about bringing Future Energy Group under the EAU banner – the company’s expertise, geographic reach and success in residential and commercial markets marks a significant milestone in our plans to extend the reach of our network construction activity across every area of Britain.
In addition, we see this acquisition as a perfect fit for our asset ownership business stream, delivering opportunities in meter asset management and local network ownership.”
Comments Barry Schofield, Chief Executive Officer, Future Energy Group:
“The acquisition of FEG by Energy Assets Group enables the continued growth of our business and expands the delivery of products, services and value to our customers. After some 50 years in the industry and with a strong management team and ownership in place I will step down as CEO and over the next few months hand over to Nathan and the wider FEG and EAG team, providing me the opportunity to retire and spend time with my family. I do this with satisfaction that our loyal and skilled workforce and our customers, many of whom I've worked with for most of my working life, will enjoy greater opportunities for advancement within the EA Group and see only benefits for all concerned.”
Comments Nathan Schofield, Sales and Marketing Director, Future Energy Group
“With the support of Energy Assets, we aim to build on our success over the last 20 years. The financial strength and additional resources that result from being part of a larger dynamic business group will provide additional opportunities and enable us to increase our pace of development. I feel very excited about the future propositions available to our customers following the acquisition by the Energy Assets Group.”
Comments Craig Topley, EAG Managing Director (Construction):
“The addition of Future Energy Group to the EAU family fulfils a strategic aim to build a network design and construction business with true nationwide reach. Alongside our other acquisitions, including SA Gas, Exoteric, Blyth Utilities and Dragon Infrastructure Solutions, we are now strongly positioned to meet the needs of our growing customer base of housebuilders, main contractors, developers and industrial and commercial end users in every part of the country.”
Aside from its construction activities, EAG is Britain’s leading independent meter asset management company in the industrial and commercial sector. The company recently expanded its asset ownership business stream into ‘final mile’ electricity and gas networks through the launch of Energy Assets Pipelines, an independent gas transport operator, and Energy Assets Networks, an independent distribution network operator.