Co-op Energy offers to buy energy company in £9m deal
Co-op Energy, part of The Midcounties Co-operative, has made an offer to acquire Ipswich energy company Flow Energy in a deal worth £9.25m.
The deal will bring Co-op Energy around 130,000 more customers.
In 2017, Flowgroup announced it would aim to maintain a total number of customer fuel accounts of just under 250,000, above which its regulatory payments would increase significantly.
In 2016 Flow Energy had audited revenues of £98.4m and made an audited net loss of £9.2m.
David Bird, chief executive of Co-op Energy, s... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
