Green Sky Energy Sold to E.ON Subsidiary
By Anne Lewis-Schneider
In a deal that is said to be worth between £85m and £100m, Green Sky Energy which is parent company to Manchester-based Matrix has been sold to a subsidiary of E.ON Connecting Energies which is one of the big 6 energy suppliers in the UK.
LDC bought in to Matrix Corporate Solutions in 2010 with a £10 million stake and Green Sky came into being. LDC was started in 2003 by former employees of Siemens. It then used a purchase and build strategy that saw it making several acquisitions over the next few years.
Expansion has continued and regional offices grew in number to 9 and employment figures rose from 105 to 340, with the announcement of Ian Kelly as company chief executive, backed by Steve Daniels as sales director and Simon Oldfield as chief financial officer. Chairmanship was awarded to Chris Thomas as the company looked to increase its share in the energy sector spoils.
LDC director Jonathan Bell said that the need for companies to control their energy costs opened up the way forward for Matrix to grow its blue chip client base, and that this brought forth its transformation into a market leader. He added that this was accomplished in a way that proved a valuable example of the role that the private sector can play in the support for both development and growth. Jonathan Bell has extended his companies best wishes to Ian Kelly and has expressed his hopes for a bright future in the new E.ON Connecting Energies partnership in the future.
According to Ian Kelly LDC has been what he calls the ideal investor in the establishment of their position in the UK energy market. He thanked the team for allowing this evolution to take place and helping to lead the way with their support for the growth over the last three years. He pointed out that becoming a part of a major energy group such as E.ON Connecting Energies would prove to be an excellent opportunity for all of the companies’ employees as well as for their customers. Noted was the role played by Jonathan Robinson and Vicky Ross from DWF in Manchester and vendor assistance service that was rendered by Chris Cormack of MaxAim. Mention was also made of the contribution by Deloitte’s Jodi Birkett and Fiona Gray who advised E.ON on the acquisition.
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