Tue, 09 Apr 2019 | BUSINESS SALE
Energy broker Utilitywise, which entered administration earlier this year in February, has sold its Energy Intelligence Centre (EIC) and T-Mac Technologies divisions to energy consulting firm The Monarch Partnership.
Led by managing director Brin Sheridan, all 130 members of staff from EIC and T-Mac will be transferred to The Monarch Partnership based in Surrey, bringing the total workforce to 250 people and a turnover of £20 million for the group.
T-Mac Technologies assists its clients by monitoring and reducing their energy consumption by providing management and intelligent building systems. Similarly, EIC caters to more than 1,000 businesses and organisations in the public sector by managing their energy and water consumption.
Utilitywise, headquartered in Newcastle, bought EIC in 2013 for £15.5 million and relaunched it soon after renaming and rebranding.
This acquisition by The Monarch Partnership was advised by legal firm Healys.
Chairman and chief executive of The Monarch Partnership, Peter Dosanjh, said: “We are building a premier utility consultancy focused on helping our customers to become fully sustainable energy users.
“Our depth and breadth of expertise is unrivalled, and we are now working with colleagues and clients across the organisation to integrate the businesses and become the UK’s leading intelligent utilities partner. It is great to have Brin on board and welcome EIC and T-Mac to the group.”
Sheridan commented: “Joining The Monarch Partnership family provides an exception platform to further grow our business and tap into the services of the whole group for our clients. We look forward to working with Peter and his team to fulfil those ambitions.”
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