Balfour Beatty, the international infrastructure group, announces today that Balfour Beatty WorkPlace has acquired Power Efficiency, the energy procurement and carbon strategy consultancy, for a cash consideration of up to £18 million.
Power Efficiency, which is an employee-owned firm, is a leader in the energy management market, providing energy procurement, invoice validation, compliance and carbon reduction advisory services to a range of private sector customers.
Power Efficiency will be integrated with Balfour Beatty WorkPlace’s existing capabilities in energy management to create a leading energy services business with over 100 dedicated technical specialists and account managers. The acquisition marks an important development for Balfour Beatty WorkPlace, bringing together a powerful combination of M&E and energy capabilities to reduce customers’ energy spend and implement carbon reduction targets. It further strengthens its ability to maintain large complex portfolios, monitor consumption and deliver end-to-end energy and carbon management services, which is seen as a key requirement by many of Balfour Beatty WorkPlace’s existing customers.
Balfour Beatty Chief Executive, Ian Tyler, said:
“Increasingly, providing our customers with advice and help to reduce their energy costs and carbon footprint is seen as an integral part of the service we offer them. This acquisition enables us to add additional skills and capabilities to our existing range of services and I am delighted that Power Efficiency’s management share our goal to build a leading energy services business.”
Balfour Beatty plc
Tel 020 7216 6865
Notes to Editors:
Balfour Beatty (www.balfourbeatty.com) is a world-class infrastructure group operating in professional services, construction services, support services and infrastructure investments.
We work in partnership with our customers principally in the UK, continental Europe, the US, South-East Asia, Australia and the Middle East, who value the highest levels of quality, safety and technical expertise.
Key infrastructure markets include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation); and commercial (offices, leisure and retail).
The Group delivers services essential to the development, creation and care of infrastructure assets including project design, financing and management, engineering and construction, and facilities management services.
Balfour Beatty employs 50,000 people around the world.
Balfour Beatty WorkPlace is a leading total facilities management and business services outsourcing company to private and public sector markets.
The capabilities of the company span a range of built environment disciplines, including: highways, property management, asset management, facilities management and administration services.
The business has 9,000 employees supporting the needs of customers throughout the UK.
Founded in 1999, with the prime objective of bringing a fully-rounded, strategic approach to the business of energy management, Power Efficiency is one of the UK’s leading consultancies in helping businesses define and achieve successful energy procurement and carbon strategies.
Its management team has long-standing experience in energy markets in both the UK and overseas, covering core areas such as energy procurement, energy reduction, auditing and the introduction of new technology.