Good Energy has announced the acquisition of Amelio Enterprises Limited, a solar installation company based in Lincolnshire.
The acquisition aims to strengthen Good Energy’s geographical presence in the solar installation market, especially within the commercial sector, including education and public projects.
The acquisition was completed for an initial cash consideration of £5.5 million.
For the financial year ending 31st December 2023, Amelio Solar reported revenues of £7.1 million and a profit before tax of £1.4 million.
Nigel Pocklington, Chief Executive Officer of Good Energy, commented: “Amelio Solar is a perfect fit for Good Energy as we continue to grow our clean energy service offerings, especially in the commercial and public sectors where demand for solar installations remains strong and less susceptible to the cyclical fluctuations seen in the domestic market.”
