4th May 2018
Corporate lawyers at Walker Morris have advised the sellers of utilities infrastructure provider, Future Energy Group (FEG), on its acquisition by Energy Assets Group (EAG).
FEG, based in West Yorkshire, provides a range of services through its subsidiaries Future Utility Solutions, Future Metering Services and Future Plant Services. It will become part of Energy Assets Utilities (EAU) division, expanding EAU’s capacity and geographical reach to serve multi-utility network customers throughout Britain. FEG will continue to trade under its current name.
FEG has grown into a leading utilities infrastructure provider, designing and constructing gas, electricity and water networks for contractors, transporters, operators and consumers across the UK. Its industry accreditations (GIRS, NERS, WIRS), quality-assured performance and innovations in customer service have enabled the company to build a customer base across residential, industrial and commercial market sectors.
Colin Lynch, Chief Executive Officer, Energy Assets Group commented:
“We are very excited about bringing Future Energy Group under the EAU banner – the company’s expertise, geographic reach and success in residential and commercial markets marks a significant milestone in our plans to extend the reach of our network construction activity across every area of Britain.
In addition, we see this acquisition as a perfect fit for our asset ownership business stream, delivering opportunities in meter asset management and local network ownership.”
Barry Schofield, Chief Executive Officer, Future Energy Group said:
“The acquisition of FEG by Energy Assets Group enables the continued growth of our business and expands the delivery of products, services and value to our customers. After some 50 years in the industry and with a strong management team and ownership in place I will step down as CEO and over the next few months hand over to Nathan and the wider FEG and EAG team, providing me the opportunity to retire and spend time with my family. I do this with satisfaction that our loyal and skilled workforce and our customers, many of whom I’ve worked with for most of my working life, will enjoy greater opportunities for advancement within the EA Group and see only benefits for all concerned.”
John Hamer, Head of Corporate at Walker Morris said:
“It’s been a pleasure to work with Barry and his fellow shareholders on the sale of FEG. Barry and the team have developed a fantastic business and I’m sure it will be a great asset to the EAU portfolio.
“The transaction reinforces our experience and long history of advising companies in the energy sector on a whole range of legal issues.”