Round-up of today’s M&A deals
Russian energy company Gazprom has made a further investment in the UK with the acquisition of an energy management software company, Cyclo Systems International (CSI).
Gazprom’s Global Energy Solutions (GGES) is a subsidiary of Gazprom Marketing & Trading, which has an office in Manchester, and has purchased CSI for an undisclosed sum.
CSI, which counts EDF Energy and the Corporation of London among its clients, is headquartered in Atlanta, but trades from a site in Dorset. It provides real-time energy monitoring and control capability to its customers and has developed technology that helps business owners manage their energy consumption patterns and cut costs by remotely controlling electric appliances.
GGES said the company’s Z-Lynk smart grid technology will compliment its own product offering.
‘We firmly believe that the suite of demand side management, smart grid technologies and system applications that CSI has developed and deployed globally are unique, and will complement and enhance the GGES product portfolio,’ says Phil McDermott, managing director of GGES.
‘We also recognise the global potential of the CSI product range, and we now expect to realise this potential under the GGES umbrella.’
John Queripel, managing director of CSI, adds: ‘Being part of GGES gives us instant access to a new client base across multiple geographies and a totally complementary set of GGES’s existing technology.’
GGES was founded in 2005 and became a 100 per cent subsidiary of Gazprom Marketing & Trading Limited in 2010. It was formerly known as Truread.
Manchester law firm Gateley acted on behalf of GGES. Corporate partner Charles Glaskie led a team that included Jemma Bolton, Peter Budd, and Fran Read.
Round-up of today’s M&A deals
- Electrolux looks to diversify away from the mature markets of North America and Europe with the acquisition of Chilean firm Compania Tecno Industrial
Value: £42 million
Advisers: undisclosed
- Archer to acquire Great White Energy Services
Value: £381 million
Advisers: Great White’s legal advisors were Akin Gump Strauss Hauer & Feld. Raymond James acted as Great White’s financial advisors. Archer’s legal advisors were Skadden, Arps, Slate, Meagher & Flom. Credit Suisse acted as Archer’s financial advisors.
