Delivering on its stated ‘ buy-and-build’ strategy to develop into a broader sector-related services company, eEnergy on Friday announced its acquisition (‘the Acquisition’) of Beond Group (‘Beond’, ‘the Company’).
Together with its successful closing of a £3.2m (gross) equity Placing (‘the Placing’) conducted through an Accelerated Bookbuild (‘ABB’) that was priced at 10.0p/share.
The Acquisition was completed for a total consideration of c.£2.4m cash (including c.£0.7m free cash in the business) sourced through the ABB, plus c.64.9m new eEnergy shares. With completion scheduled for tomorrow, Beond’s integration will represent an important step toward the Board’s stated ambition to create an integrated energy management and savings platform.
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