OREANDA-NEWS. Today, E.ON Connecting Energies entered into a definitive agreement to acquire Matrix (“The Company”), the UK market leader in energy management and energy efficiency services for commercial buildings. The agreement covers the purchase of 100 percent of the issued share capital of Green Sky Energy Limited, the parent company of Matrix, and was signed with LDC a UK mid-market private equity investment fund, and Matrix employee and management shareholders.

E.ON Connecting Energies (“ECT”), headquartered in Essen, Germany, is a 100 percent subsidiary of E.ON, focusing on energy efficiency and distributed energy solutions in the B2B sector globally.

Matrix, headquartered in Manchester, UK, offers data-led energy efficiency solutions and energy management services, based on its advanced metering and building energy management technologies. The Company has a widely respected track record of delivering energy savings of up to 40 percent for its customers and finding additional sources of value for its customers along the way, such as cost reductions in maintenance of energy related equipment and/or waste reduction of perishable goods.

Matrix generate savings by bringing together its consulting skills - with a deep understanding of the energy needs of its customers and an ability to identify optimization opportunities from data mining - with its technical skills - configuring and controlling remotely Building Management systems to optimize the use of energy by heating, cooling or lighting systems - and its project management skills - proposing, implementing and operating energy-related asset investments on behalf of its customers. Matrix serves blue-chip corporates, in the retail, telecommunications and finance sectors as well as public-sector institutions. The Company operates nine regional offices in the UK and an advanced Energy Management Centre in Glasgow, which manages over 31,000 data connections to customer sites in 22 countries around the world.

Energy efficiency is a top priority for industrial, commercial and public-sector organizations around the world as rising energy costs, regulatory requirements and sustainability objectives come to the fore. This acquisition strengthens the presence of E.ON Connecting Energies in the UK energy efficiency sector and deepens ECT’s expertise in data-analytics based energy efficiency services.

The transaction is subject to Austrian merger control clearance and expected to close in October.

Herve Touati, CEO of EON Connecting Energies, said “I am delighted with this acquisition and the opportunity to work with the 340 highly talented Matrix employees. This transaction is an important strategic move for us, allowing us to expand our position in the fast growing energy efficiency market. It adds a sophisticated, innovative offering to our existing services portfolio. We see tremendous opportunities from the combination of Matrix’s deep data-led building energy expertise with our capital-led energy efficiency and on-site generation capabilities. This will allow us to provide our customers in the UK and continental Europe much greater control of their energy cost”. Ian Kelly, CEO of Matrix, said “Getting together with E.ON will make our combined business much stronger. E.ON has the international presence as well as the breadth and depth of energy technology expertise that will allow us to move from a leading national player to a leading global player in the B2B energy efficiency space. We look forward to continuing our significant growth together with E.ON and to facilitating energy savings for an even broader range of customers globally. We are very happy to have found, with E.ON Connecting Energies, a new owner that shares the same vision in the potential of distributed energy and the ways to bring value to our customers.”