Utilities contractor M Group Companies has acquired residence decarbonisation agency AgilityEco, in its newest transfer to enhance its renewable power capabilities.
AgilityEco helps power suppliers, native authorities and different firms enhance power effectivity and cut back utility payments. It was purchased for an undisclosed sum.
The Surrey-based agency joins M Group’s current portfolio of power service suppliers, together with Morrison Vitality Companies, Seeka and Callisto.
M Group Companies chief govt Andrew Findlay stated: “The acquisition of AgilityEco represents an extension of our capabilities to ship important providers to our current power and native authority purchasers.
“These providers allow our purchasers to fulfill their regulatory obligations and help the supply of their formidable decarbonisation agendas.”
Purchasers of each firms embody British Fuel, Ovo Vitality, Eon and Nationwide Grid. M Group Companies additionally counts Whole and SGN amongst its power providers prospects.
AgilityEco has 216 partnerships with native authorities and estimates it has unlocked £57m in funding for power effectivity initiatives for its purchasers and companions.
The corporate is a B-Corp, which means it has demonstrated a excessive social and environmental efficiency to exterior certifiers.
AgilityEco managing director Sharon Johnson stated: “Being a part of M Group Companies offers entry to complementary capabilities and enhances our means to offer a differentiated providing for our purchasers and companions.”
M Group Companies ranked ninth within the 2023 CN100, Building Information’ annual rating of contractors. Nevertheless, though the agency’s turnover elevated by £300m to almost £1.9bn, pre-tax revenue dropped from £30m to £79m – a fall of 161 per cent.
M Group has dedicated to reaching net-zero emissions by 2050. It launched a Carbon Discount Group in September 2022, which meets each six weeks to debate concepts for responding to local weather change.
Its most up-to-date environmental, social and governance report estimated that its carbon emissions within the 12 months ending March 2023 have been down 16 per cent on the earlier 12 months.
Simon Greatest, managing director of M Group Service’s power division, stated: “AgilityEco has established a number one place available in the market over the previous decade and brings a powerful set of adjoining capabilities to our group, which we’re excited to offer to our purchasers.
“We stay up for supporting the supply of AgilityEco’s formidable development plan within the coming years.”
