Inprova Group has taken the next step towards becoming one of the top five third party intermediaries for energy brokerage by integrating its two latest acquisitions into a new energy division.
Non-domestic energy brokers ENER-G Procurement and energyTEAM – which were bought by the Cheshire-based procurement outsourcing service company in April – have been combined as part of Inprova Group’s ambitious expansion plans.
The new combined business will form a new division of Inprova Group and will be branded energyTEAM, part of the Inprova Group.
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The combined operation is hoped to enable the business to deliver a greater level of service and value to customers in the UK and overseas.
The integrated offer includes procurement and associated services such as bureau, market intelligence, and risk management.
The new business will also be building capability and capacity in the delivery of wider energy related services, including energy and water consultancy incorporating legislation compliance and audits relating to ESOS.
The company already provides procurement outsourcing, consultancy and technology services across the private and public sector, procuring £500m worth of goods and services a year for clients in the logistics; private equity; health; local government, and housing markets.
Inprova aims to at least double in size over the next two to three years as it closes in on its goal to become a leading TPI.
With that aim, further acquisitions are planned for the future, including energy market companies and procurement technology firms.
Chief executive of Inprova Group, Paul Kennedy commented: “Inprova are effectively a new market entrant into the TPI space and I think we bring a fresh perspective to an increasingly commoditised space. The combination of these two companies into a new, large energy division will give us the scale to bring world class procurement and related services to a much wider market.
“It will also enable us to bring a wider range of energy services to our existing customers. We know many organisations struggle with this particular area of spend due to the complex and volatile nature of energy markets. Thanks to our leading edge services we can help to provide the expert guidance and support they require.
“The launch of our new energy division fits in with our wider goal to establish Inprova Group internationally in new procurement markets and to continue our expansion.”