Energy Assets Group Acquire Dragon and UDN

Energy Assets Group is pleased to announce the acquisition of Northampton based Dragon Group, as the next step to fulfilling its strategic aim of being a nationwide multi-utility network designer, constructor and operator serving both the residential and industrial /commercial market sectors.

Dragon Infrastructure Solutions (DIS) is a leading Independent Connections Provider (ICP) and Utility Infrastructure Provider (UIP) with a primary focus on the residential new development market, but with an excellent reputation and track record of delivery across all market sectors – residential, commercial and industrial. Their core electricity design and operational skills are a perfect addition to the Energy Assets portfolio.

The transaction which includes the acquisition of Dragon’s Utility Distribution Networks (UDN), adds an iDNO (Independent Distribution Network Operator) licence to Energy Assets’ Independent Gas Transporter (iGT) accreditation, enabling the Group to accelerate its gas and electricity network operator product offering, nationally.

 Both DIS and UDN become part of the Energy Assets Utilities brand which was launched during 2016.

 Colin Lynch, Managing Director of Energy Assets Utilities - Networks, commented:

“Dragon is an excellent fit for our business, not only through clear strategic synergies but also our shared ethos of operational excellence.

 DIS adds geographic coverage and significant technical strength to our dual fuel network design and construction operations, enhancing our high quality proposition to both the commercial and residential markets across Britain. At the same time, UDN’s iDNO licence complements our iGT status perfectly and completes our dual fuel network operator product portfolio.”

Simon Phipps, DIS Director, commented:

 “The acquisition is another exciting milestone in Dragon’s history which further strengthens the company’s capabilities as a leading ICP in Britain. The investment is excellent news for both the core Dragon business and our recently established iDNO UDN and marks the next stage of growth for the business.

It was extremely important for us to find an owner that shares our drive for continued growth through a client-driven strategy and Energy Assets, with its market leading utility metering and gas network connection products fits that bill. This is great news for both our businesses and clients, as we complement each other, providing truly national delivery capability as well as continued investment in our services across our markets”

Dragon Group was started by Simon Phipps and co-Director Debbie Edgar 15 years ago and generates annual revenues in excess of £14m. It employs 90 staff at its Northampton headquarters and serves a diverse customer base that includes central and local government, retail centres, public service providers, house builders, developers and construction companies.