Headquartered in the United Kingdom, M&C provides energy procurement, compliance and performance optimization services mostly on a recurring subscription basis. The company has more than 500 employees including 300 energy specialists, and an international presence with 21 offices across 15 countries, particularly in Europe and Asia-Pacific. M&C expects to generate total sales of approximately £35 million for the current year ending June 2012 with an EBITA margin above the Schneider Electric average.
M&C will complement the offerings and geographic presence of Summit Energy, which was acquired by Schneider in 2011. M&C brings:
- 一个大约4,000个客户组成的客户群，包括大型公司以及大型小型到中型企业
- Complementary geographical footprint, including Australia, Asia and some European locations
- An experienced team specialized in services like energy procurement and risk management, regulatory analysis and compliance, performance optimization and sustainability auditing.
Chris Curtis, Schneider Electric’s Executive Vice President, Buildings Business, commented: “M&C is a bolt-on acquisition that will strongly complement Summit’s offerings, significantly enhance the Group’s position in energy management services, and accelerate our growth in countries where our presence is limited. In addition, this acquisition is totally in line with the Group’s strategy to boost services growth. The combination will allow us to connect their supply side expertise with our lead in
demand side solutions and generate significant synergies.”
Mark Dickinson, CEO, M&C Energy Group commented: “Bringing M&C Energy Group and Schneider Electric together creates a global force in the energy advisory sector, providing long-term benefits to both staff and clients flowing from the combined knowledge, expertise, geographic footprint and range of products and service available.”
The completion of the transaction is subject to regulatory approvals and customary closing conditions. The closing is expected to occur in the second quarter 2012. This acquisition is expected to be accretive on earnings per share from year 1 and to meet Schneider Electric’s Return on Capital Employed criteria in year 3.
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