M&As this week: Auric Energy, Genie Energy, Environmental Group Limited

11 January 2019 (Last Updated January 11th, 2019 10:00)

Auric Energy has acquired Solaroo Energy, a US-based company involved in solar installation and sales.

Auric Energy has acquired Solaroo Energy, a US-based company involved in solar installation and sales.

The acquisition will enable Auric Energy to launch large-scale solar projects and partnerships with companies in the areas of design, repair, construction and long-term services.

Auric Energy will be able to provide a wider range of solar panels, electrical equipment and energy-efficiency products to its consumers. The acquisition will also bolster its position in the residential and commercial markets and boost its revenue.

Auric Energy is a solar financing and installation company, while Solaroo is a solar power and solutions provider. Both companies are based in the US.

Genie Energy has acquired a controlling interest in Lumo Energia.

“The acquisition will enable Genie Energy to diversify its revenues, expand its customer base and provide access to the Scandinavian market.”

The acquisition will enable Genie Energy to diversify its revenues, expand its customer base and provide access to the Scandinavian market.

Genie Energy is a US-based energy company, while Lumo Energia is an electric supply company based in Finland.

Environmental Group Limited (EGL) has signed an agreement with the administrators of RCR Tomlinson Limited for the acquisition of RCR Energy Service for an undisclosed sum.

The acquisition will be financed through the existing debt facilities of EGL and is scheduled for completion this month. It will strengthen the company’s presence in Australia and build a renewable energy portfolio to reduce carbon emissions and improve the air and water quality.

Senior management team members from RCR Energy Service will join EGL and provide customer and supplier continuity.

EGL is involved in the design and servicing of emission control systems, while RCR Tomlinson Limited is a multi-disciplined engineering company involved in the provision of integrated solutions. Both companies are based in Australia.