Energy supplier E.ON has agreed to buy out UK energy management consultancy Matrix for an undisclosed sum, as part of efforts to broaden its presence in the growing energy efficiency market.
Founded in 2003, Matrix specialises in “data-led” energy efficiency solutions for commercial buildings for a customer base that is made up largely of blue chip corporates and public sector organisations. The company remotely configures and controls building management systems – a total of 31,000 data connections across 22 countries – for its customers from its energy management centre in Glasgow.
“E.ON and Matrix have a shared belief that continuous innovation and advanced data-analytics are critical to offering best in class energy efficiency solutions internationally allowing large organisations to monitor and control remotely sites in multiple geographies,” the companies said in a joint statement.
E.ON claims that Matrix has already cut its customers’ energy use by 40%, through the use of advanced metering and building energy management technologies.
“Building our presence”
The German company intends to buy Matrix through its energy management services unit, E.ON Connecting Energies, which was founded in 2012 to offer its commercial, industrial and public sector customers an energy efficiency service as well as a supply service.
E.ON Connecting Energies currently has six EnPCs under contract, including contracts for Ealing Council and Newham Hospitals NHS Trust in London, with a further 10 in the pipeline.
“This agreement allows us to expand our position in the business energy efficiency market, building on our presence in consultancy and on-site generation,” a spokesman for E.ON Connecting Energies told Energy Demand.
Matrix, meanwhile, wants to take advantage of E.ON’s international presence to infiltrate the global energy efficiency marketplace. “E.ON has the international presence as well as the breadth and depth of energy technology expertise that will allow us to move from a leading national player to a leading global player in the B2B energy efficiency space,” said Matrix’s CEO, Ian Kelly.
Subject to Austrian merger control clearance, the deal is expected to close in October. Matrix employs 340 staff across nine sites.
Rachel Parkes
Rachel Parkes is a business journalist specialising in energy and the clean tech sector. In her five years as a reporter and editor she has also worked for titles such as Renewable Energy Focus, RenewableUK’s RealPower magazine, Gas Matters and LNG Business Review. She has a degree in Politics from the University of Sussex.
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