17th May 2018 10:02
LONDON (Alliance News) - Lakehouse PLC said Thursday that it has acquired Just Energy Solutions Ltd for a deferred sum that it didn't specify.
Lakehouse deals with compliance, energy and property services, and construction. The amount paid for Just Energy Solutions will depend on the profitability of the business over the next two years.
Just Energy Solutions is based in St Albans and provides private sector heating and renewable energy services, as well as solar buyback services. Lakehouse says the purchase is aimed at expanding its "geographic presence in private sector gas and renewables" as part of its growth strategy.
"The acquisition of Just Energy Solutions is another key development of the group's strategy, outlined earlier this year. Having recently secured Arbed 3 in Wales to expand our geographic reach and services to key strategic clients, Just Energy Solutions offers us a further route into the private sector for compliance and energy services and a means of delivering procurement opportunities," said Lakehouse Chief Operating Officer Michael McMahon.
Just Energy Solutions will keep its co-founder, Niel Ring, as managing director after the acquisition.
"Combining our specialist skills with the group's experience and client base means we are in the best position to bolster our presence in the compliance and energy markets," Ring said.
Shares in Lakehouse were up 0.9% at 42.19 pence per share on Thursday morning.