The deal, announced yesterday (16 January) saw Veolia purchase Reading-based Cynergin from its owners, the private funding Brook Henderson Group. Details of the sale value have not been disclosed.
Purchasing Cynergin, which Veolia described as “a leading energy services company and Energy Performance Contract (EPC) specialist”, means that Veolia has broadened its existing scope to provide waste, energy and water services to a range of businesses and organisations. Veolia is increasingly operating beyond the waste sector as group businesses come together under the Veolia brand.
In a statement, Veolia said: “Over recent years Cynergin has enjoyed notable success in a number of high profile Hospital Trust and public building energy projects, such as the Yeovil and Warrington & Halton Hospital Trusts and Somerset House and has a strong business pipeline.”
Expertise
The company added: “The acquisition provides a complementary set of skills to the existing Veolia business in bidding, delivering and maintaining Energy Performance Contracts and will further extend the capabilities and expertise of the existing energy efficiency teams in the UK. The new team will remain focused on delivering under the procurement frameworks to which it is accredited.”
Estelle Brachlianoff, senior executive vice president, Veolia UK and Ireland said, “We believe in the development of the energy business and this latest acquisition demonstrates our commitment to increasing energy efficiency and sustainability. We share Cynergin’s commitment to delivering innovative solutions and long term business value to customers, and our first priority will be to ensure all customers within the recently acquired portfolio continue to receive a high quality service.”
Mrs Brachlianoff added: “With the addition of Cynergin’s expertise and bidding approach, Veolia is further strengthening its service offering to the healthcare and public sectors to ensure we maintain the existing growth in the management of Energy Frameworks and address the needs of these dynamic markets, providing not only energy, but water and waste solutions.”
Cynergin’s work has included involvement with the public sector including carrying out a feasibility study into the potential for a district heating scheme in Central Bolton. The company recommended a combination of gas-fired combined heat-and-power (CHP) plant, supported by boilers using a by-product from composting.
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