A North East energy consultancy has been acquired by a rival firm in a move that aims to boost both businesses.
County Durham’s Smart Utility Management has been acquired by Make It Cheaper (MIC), a London-based company that specialises in helping businesses switch their energy supplier.
Smart operates a team of sales consultants that work in the field to generate leads through face-to-face meetings with clients, and the takeover deal has been designed to allow its team to reach more customers across the North of England.
Peter Kirkham and Jonathan Bell, Smart co-CEOs, said: “Joining forces with Make it Cheaper means we can now serve our clients even better, offering them new products and services and helping them to save even more money.
“Our field-based sales team will help Make it Cheaper to reach segments of the market it currently doesn’t have access to. This is a win-win business combination.”
The acquisition of the Chester-le-Street business is the third to be carried out by MIC since it received investment from ECI in 2017. MIC said the deal would allow it to reach more customers, offer more products and services, and boost its sales capabilities.
Its new products on offer will include telecoms and insurance, as well as MIC’s “Do It For You” auto-switching service.
The acquisition takes MIC Group’s total contracts under management to more than 216,000.
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Paul Galligan, MIC’s CEO, said: “Switching is widely recognised as an effective way for businesses to lower their bills and find better service providers. Our latest acquisition cements our position as the leading, go-to solutions provider for SMEs that want to find the best energy, broadband and insurance deals.”
Commenting on MIC’s expansion, Richard Chapman, partner at ECI, said: “We are delighted to support MIC as it builds out its platform to become the 海角视频’s leading switching champion for SMEs. MIC is already generating strong organic growth of 50% year-on-year and today’s acquisition will help the company to reach more customers and offer them more products and services.
“We are keen to provide further support to MIC as it continues to build out its business and deliver on its strategic goals, both organically and through further acquisitions.”