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AIM-listed energy procurement consultants Inspired Energy (LON:INSE) has announced plans to purchase Inprova Finance for a £19.5 million cash consideration which will be funded via the issue of new shares. Management said that they believe that the acquisition will be earnings enhancing from FY2019 onwards.
CEO Mark Dickenson commented: “We are delighted to have agreed the acquisition of IFL and its group of energy businesses. This acquisition provides an opportunity to drive further growth from Inspired’s established platform and deliver value creation, both strategically and operationally, in addition to strengthening the Group’s position as a leading TPI in the UK and Ireland. We look forward to working with the team as we continue to accelerate our next phase of growth.”
The share price of Inspired Energy rose by 2.10p to 17p (as of 13:15 GMT).