M Group said that the acquisition strengthened the long-term strategy of its Energy Division, “providing new opportunities to further develop the group’s long-term client relationships in the energy sector”.
In the year ending 30th September 2022, Surrey-based Agility Eco turned over £43m (2021: £65m) and made a pre-tax profit of £4.3m (2021: £10.0m).
The vendor was private equity fund Bridges Evergreen. The purchase price was not disclosed.
Agility Eco becomes M Group’s 11th acquisition since it was itself acquired by French private equity outfit PAI Partners in July 2018. Its other acquisitions include Skanska's UK highway maintenance operations, since rebranded Milestone Infrastructure.
M Group Services chief executive Andrew Findlay said of the latest deal: “The acquisition of Agility Eco represents an extension of our capabilities to deliver essential services to our existing energy and local authority clients. These services enable our clients to meet their regulatory obligations and support the delivery of their ambitious decarbonisation agendas.
“Acquisitions with adjacent capabilities serving existing clients are a fundamental part of our continuing growth strategy and we are delighted to further enhance our group capabilities with the acquisition of Agility Eco.”
Simon Best, managing director of M Group Services Energy Division, added: “AgilityEco has established a leading position in the market over the last decade and brings a strong set of adjacent capabilities to our group, which we are excited to provide to our clients.”
Sharon Johnson, managing director of Agility Eco, said: “We are excited to be joining the M Group Services Energy Division, which represents a great opportunity for our people, our clients and our partners. Being part of M Group Services provides access to complementary capabilities and enhances our ability to provide a differentiated offering for our clients and partners. This strengthens our platform for growth, and as a purpose-driven organisation, it ultimately enables us to support more vulnerable families living in fuel poverty and to prepare Britain’s homes for net zero.”
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