Inspired completes two acquisitions

Inspired, a leading energy procurement consultant to UK corporates, has completed the purchase of the trade and assets of Flexible Energy Management Limited and the acquisition of Churchcom Limited.

FEML is a public sector energy procurement specialist, servicing a customer base comprising of NHS foundation trusts/hospitals and academic and sporting institutions, through two NHS sponsored OJEU frameworks.

Inspired said the consideration comprised a cash payment of £2.2m and the issue of 2,993,653 new ordinary shares to the shareholders of FEML, who would remain with the enlarged group.

Churchcom is an energy procurement consultancy operating through two principal divisions, the Church Energy Purchasing Group, which specialises in serving the church sector, and Energy Partners, a growing commercial energy procurement business.

It was acquired for a cash payment of £1.4m.

At 9:32am: (LON:INSE) Inspired Energy PLC share price was +0.25p at 17p