Centrica plc today announced that its North American subsidiary, Direct Energy Business Services (DEBS), has acquired BASE Controls Limited (BASE), a privately owned Canadian automation and controls company, for a consideration of C$14.2 million (£6.3 million) in cash.
BASE is a specialist energy management company which provides commercial customers with technological solutions to manage their heating and cooling needs. The acquisition will support DEBS’ strategy of providing a total energy solution to commercial customers in North America by bundling energy, servicing and energy management technology. It will also improve DEBS’ ability to penetrate the larger commercial building sector and target new constructions with an enhanced energy offering.
BASE, is headquartered in Ontario and provides access to specialist technology, important distribution agreements, and management expertise. It will also support the continued growth of DEBS, which has already won a number of national commercial accounts since it was launched in 2003.
Deryk King, Managing Director of Centrica North America said: "Today’s acquisition allows us to offer a differentiated and improved product bundle as we continue to grow our Business Services operation, which will be one of the key drivers of future revenue growth in North America."
For the year ended 31 July, 2004, BASE reported revenue of C$22.1 million (£9.8 million) and EBITA of C$2.5 million (£1.1 million), and is expected to be earnings enhancing in the first year.