Energy consultancy McKinnon & Clarke has acquired Encore for £6.25 million.
Energy consultancy McKinnon & Clarke (M&C) has acquired Encore for £6.25 million.
London-based Encore is an energy price risk management advisor which manages more than €3 billion (£2.5 billion) of energy procurement annually.
Founded in 2001, the company employs over 80 people and has offices across Europe.
Simon Northrop, M&C’s CEO, says that the acquisition of Encore is one of a number of acquisitions in the pipeline. Scotland-based M&C employs 450 staff across 13 countries. The deal will bring M&C’s turnover to more than £30 million, with 3,500 clients across Europe, the US and Asia Pacific.
M&C was sold in January 2010 to Lyceum Capital for £22 million, which announced a planned increase in the company’s turnover to £60 million by 2013.
The company is to be renamed M&C Energy Group from July.