16th Oct 2008 07:26
British Gas Business to acquire BMSi Centrica plc, through its British Gas Business division, today announced that ithas acquired Building Management System Integrators Ltd (BMSi) for a cashconsideration of £7 million. The acquisition, which includes an additionalearn-out mechanism of up to £3 million, will launch British Gas Business's entryinto the UK's expanding business energy services market which Centrica believeswill grow to £2 billion over the next five years, according to a consensus ofmarket sources.(1) BMSi is a UK leader in the installation and contract servicing of specialistbuilding controls systems. These systems help improve building energy managementperformance and can deliver significant energy and carbon savings. The businesscurrently employs a total of 69 people and its existing customers include Boots,BAA and O2. By combining the capabilities of BMSi with the energy expertisewithin British Gas Business it will be able to provide customers with new energymanagement propositions and products. British Gas continues to explore other acquisitions to further build the range,scale and reach of the energy efficiency and low-carbon capabilities it canoffer business and domestic customers. Phil Bentley, Managing Director of British Gas, said: "With high energy costs,and with the prospect of new legislation and tighter regulation aroundbusinesses' carbon emissions, we will offer new ways to help our customers cuttheir energy usage and reduce their carbon footprint. This rapidly growingmarket is also being driven by changing customer attitudes and the desire ofmany in business to demonstrate greater corporate responsibility by reducingtheir energy usage and carbon footprint. "Our new energy solutions will include building control technologies, automatedmonitoring and targeting and smart metering which will help businesses trackenergy consumption and optimise the operation of high energy consuming plantsuch as heating, ventilation, air conditioning and lighting." Enquiries Investor relations: 01753 494900Media relations: 0845 072 8001 Notes to editors Centrica plc is acquiring BMSi Ltd through its subsidiary British Gas EnergyServices Ltd a wholly owned subsidiary. (1 )Forecast of the size of the business energy services market comes fromCentrica's analysis of a variety of market sources including Federation ofEnvironmental Trade Association, Building Control Industry Association (BCIA),UKCEED, Energy Systems Trade Association, Carbon Trust, SMT Consulting. Copyright Business Wire 2008Related Shares:
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