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.
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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