npower seeks to grow energy services business
npower has acquired building services contractor SPI Group. The purchase, which was completed for an undisclosed sum, is a major boost for npower as it seeks to grow its energy services division.
SPI specialises in providing mechanical and electrical installation and maintenance services, predominantly to social housing and public buildings. It has a large number of major clients and employs around 500 people across England and Wales.
The acquisition of SPI means that npower is well positioned to grow its share of the energy services market across almost five million homes in the social housing sector. npower will also seek to expand its commercial energy services activity.
In 2007 npower hometeam, a central heating installation and boiler servicing business, was created to provide for growth in this increasingly important business area.
npower has grown its home energy services business from the ground up and now employs over 800 people with a fleet of around 400 vans on the road.
Kevin Miles CEO of npower retail said: “I am delighted that we have been able to acquire such a well respected, professional and quality orientated business such as SPI. This is a major step forward for npower in growing its energy services business.
“Looking ahead our plan is to grow the business still further, delivering the same high quality service that current SPI customers and clients enjoy today.”
Steve Huxley SPI chief executive said: “This is a very exciting development for SPI. Over the last 12 months SPI has had a number of parties expressing interest in the business and these were reviewed on their merits. The npower proposition was compelling as it enabled SPI to join a large energy services group who believe in supporting and growing our business. We are very much looking forward to joining npower.”
Electrical and Mechanical Contractor