Business

Triple buyout deal for energy consultancy

Three West Midlands firms have been bought out by Egnida

From left: Randall Edwards, chairman of Egnida; Andrew Padmore, chief executive of Egnida; Kate Ashworth, director of Encraft; and Tony Murtagh, founder of Car & Van Lease Supermarket

A trio of West Midlands consultancies have been bought out by a Welsh energy firm.

Egnida Group has acquired Solihull-based Logical Vehicle Management and Car & Van Lease Supermarket, which specialise in fleet management, and Leamington Spa energy consultancy Encraft.

Terms of the deals have not been disclosed.

Egnida, based in Cowbridge near Cardiff, delivers energy services for private and public sector organisations such as procurement, energy efficiency and installing and operating renewable projects.

It said the enlarged group would strive to optimise the relationship between electric vehicles, charging infrastructure and the grid in order to satisfy the green fleet agenda.

All three acquired companies will continue to be based in their existing offices.

Andrew Padmore, chief executive of Egnida, said the company recognised that future global developments in energy and mobility markets were likely to be "massively disruptive".

He added: "These acquisitions mean our clients will benefit from a much broader understanding of how next generation energy projects and alternative-fuelled vehicles are becoming increasingly interlinked.

"In practice, this means that businesses can take immediate steps towards a future where the 'smart management' of demand, including power, heating and vehicle management, is linked with distributed generation, leading to a low-cost, low-carbon energy plan.

"Energy generation is becoming more localised and renewable and requires the move to a 'smart grid' to ensure security of supply.

"The situation is made more complex by the growth of electric vehicles that will initially cause grid problems.

"If the transition to electric vehicles is managed carefully, fleet operations can be optimised and vehicles used to secure energy market related income to drastically reduce fleet whole-life cost of operations."

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Kate Ashworth, director of Encraft, said: "This is a very positive development for our business.

"We have been looking for a partner and ways to move from our established innovation and consultancy work into implementation."