News
22 October 2008
British Gas New Energy to acquire Semplice Energy
Centrica plc, through its British Gas New Energy division, today announced that it has acquired the low carbon solutions company, Semplice Energy Ltd, for a total cash consideration of £1.5 million (including the repayment of debt). An initial consideration of £1.2 million has been paid on acquisition with a further £0.3 million payable in two years dependant on meeting specified criteria.
Semplice Energy is a leading provider of clean technology solutions in the UK, offering consulting, design and systems integration to help businesses reduce their energy usage, and invest in clean generation to achieve commercially viable CO2 reduction. Semplice Energy currently employs 21 staff.
The deal complements British Gas' recent acquisitions of Solar Technologies Group Ltd and BMSi Ltd and technology partnerships with Ceres Power, Disenco and vPhase.
Gearóid Lane, Managing Director of British Gas New Energy, said:
"This is another step forward in our development of a broad range of energy efficiency and low-carbon capabilities we can offer business and domestic customers. Semplice Energy will help us in the delivery of these services."
For more information:
Investor relations: 01753 494900
Media relations: 0845 072 8001
Notes to editors
Centrica plc is acquiring Semplice Energy Ltd through its subsidiary GB Gas Holdings Ltd
