MacRoberts’ and French Duncan’s corporate finance teams have supported one of the UK’s most ethically aware energy firms, Together Energy, in their acquisition of Bristol Energy’s residential customer base, ensuring a continued service for customers and securing the jobs of 110 frontline workers.
The sale to Together Energy for £14m will see the company acquiring 155,000 residential meter points plus the Bristol Energy brand and systems.
Together Energy prides itself on its social impact with more than 90% of its staff coming from the poorest 10% of postcodes. During negotiations, Together Energy committed to guaranteeing the jobs of 110 frontline workers who will now TUPE into the company and remain in Bristol.
Together Energy Chief Executive Paul Richards said:
“The industry and intelligence shown by Michael Kelly, Iain Walker and their teams at MacRoberts and French Duncan has been incredible. It was a complex transaction and I have been enormously reassured by their handling throughout. They are superb advisors, a pleasure to work with and they have undertaken a herculean effort to deliver this transaction.”
“This was a brilliant transaction to be part of and we are delighted for Together Energy. It is another big step forward in their growth plans, and it rescues a vast number of jobs. At a time of such obvious challenges, we are proud to be part of a deal which delivers real commercial value to our client, but also serves the public good in such a profound way”.
French Duncan Corporate Finance Partner Iain Walker said:
“We are delighted to have supported Together Energy with this milestone transaction, which significantly increases their scale, helps to facilitate their growth plan and also secures jobs. It again demonstrates the ambitions of Paul and the Together Energy team, and we look forward to seeing the company continue to grow and thrive.”