Press Release Summary: Centrica plc, through its British Gas Business division, today announced that it has acquired Building Management System Integrators Ltd (BMSi) for a cash consideration of GBP7 million.
Press Release Body: October 2008 - Centrica plc, through its British Gas Business division, today announced that it has acquired Building Management System Integrators Ltd (BMSi) for a cash consideration of GBP7 million. The acquisition, which includes an additional earn-out mechanism of up to GBP3 million, will launch British Gas Business's entry into the UK's expanding business energy services market which Centrica believes will grow to GBP2 billion over the next five years, according to a consensus of market sources.
BMSi is a UK leader in the installation and contract servicing of specialist building controls systems. These systems help improve building energy management performance and can deliver significant energy and carbon savings. The business currently employs a total of 69 people and its existing customers include Boots, BAA and O2. By combining the capabilities of BMSi with the energy expertise within British Gas Business it will be able to provide customers with new energy management propositions and products.
British Gas continues to explore other acquisitions to further build the range, scale and reach of the energy efficiency and low-carbon capabilities it can offer business and domestic customers.
Phil Bentley, Managing Director of British Gas, said: "With high energy costs, and with the prospect of new legislation and tighter regulation around businesses' carbon emissions, we will offer new ways to help our customers cut their energy usage and reduce their carbon footprint. This rapidly growing market is also being driven by changing customer attitudes and the desire of many in business to demonstrate greater corporate responsibility by reducing their energy usage and carbon footprint.
"Our new energy solutions will include building control technologies, automated monitoring and targeting and smart metering which will help businesses track energy consumption and optimise the operation of high energy consuming plant such as heating, ventilation, air conditioning and lighting."