13th Apr 2010 09:30
British Gas acquires Hillserve Limited
Centrica plc, through its British Gas division, today announced that it has acquired Hillserve Limited (Hillserve), a leading domestic insulation company, for a cash consideration of £5 million plus an adjustment for net cash within the business of around £1.3 million.
Hillserve operates in the North West of England and Wales and currently employs 159 staff. This acquisition builds on British Gas' recent creation of a nationwide in-sourced insulation business, and supports the company's growth plans in this sector.
ENDS
Notes to editors
1. Centrica plc has acquired Hillserve Limited through its subsidiary GB Gas Holdings Ltd.
2. British Gas established a new insulation business in March 2010, and in 18 months plans to employ 1,100 people in this business.
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