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Balfour Beatty buys energy firm

Energy procurement and carbon strategy consultancy Power Efficiency has been bought by Balfour Beatty for £18 million.

Power Efficiency provides carbon reduction advisory services, compliance, invoice validation and energy procurement to a range of private sector customers.

The energy management specialist will be integrated with Balfour Beatty WorkPlace to create an energy services business with more than 100 dedicated technical specialists and account managers.

Balfour said: “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.”

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.”