Balfour Beatty buys energy consultant for up to £18m

Balfour Beatty has bought Power Efficiency, an energy procurement and carbon strategy consultancy, for up to £18m in cash.

The contractor said the acquisition would help it reduce client’s energy costs and help them to hit carbon targets.

Power Efficiency will be merged into Balfour Beatty Workplace, which does facilities management and business process outsourcing, to create a 100-strong energy services team.

Balfour Beatty chief executive, Ian Tyler, said: “Increasingly, providing our customers with advice and help to reduce their energy costs and carbon footprint is seen as an integral part of the service we offer them.  This acquisition enables us to add additional skills and capabilities to our existing range of servicesand I am delighted that Power Efficiency’s management share our goal to build a leading energy services business.”