Mon, 08 May 2023 | BUSINESS SALE
Fuel and clean energy services business Greenarc has continued to grow through acquisitions after agreeing a deal for electrical contractor Elektec. The target company provides commercial and industrial electrical services and project management, with a strong focus on green energy.
The deal, which was carried out utilising funding from Barclays Bank, is the third that Greenarc has completed in the past year, following its investment in Oxfordshire firm Heat Engineer Software Limited in April and its acquisition of vehicle leasing and rental business KeyFleet – subsequently rebranded as Greenarc Vehicles – in November 2022.
Greenarc Chairman and CEO Chris Bingham commented: “This recent acquisition is one of many investments from Greenarc in the past 12 months and we are thrilled to welcome Carl and Charlotte to the business to support our goal of transitioning our customers to a clean energy future.”
"With Elektec’s focus on EV charging points, battery storage, LED lighting, electrical compliance and more recently solar we have further increased our low-carbon service offering. This acquisition represents another important pillar of our decarbonisation proposition to individuals, businesses, and the public sector across the UK."
Elektec director Charlotte Knowles added: "This acquisition allows us to continue to offer our electrical services locally but also provides Elektec with the expertise and funding to grow our services to customers. Not only this, but we now have access to a range of other renewable energy solutions to support our customers to decarbonise their entire energy infrastructure.”
"Greenarc’s honest and informative approach to clean energy fits in well with what we do at Elektec, we are thrilled to be joining the Greenarc team and I’m excited about the future work we will be achieving together."
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