Saturday, November 9, 2024

Yuno Group acquires gas supply firm in Northern Ireland

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Yuno Group, the company behind Yuno Energy and Prepay Power has acquired firmus energy (Supply), the gas supply business of firmus energy and one of the largest energy supply companies in Northern Ireland.

It is understood the deal is worth over €40 million.

The acquisition will add 110,000 customers to Yuno Group’s customer base.

Following this transaction, Yuno Group will have around 410,000 connections across the island, a turnover of over €600 million and a team of almost 600 people.

Cathal Fay, founder and chief executive of Yuno Group, said the acquisition is a “transformational” deal for the group.

“It increases our customer base by a third, hugely increases our customer numbers in gas, and opens up an exciting new avenue for continued growth in a new market – Northern Ireland,” he said.

“We believe we can add real value to firmus energy’s strong platform, and that the transaction will greatly strengthen our overall business,” he added.

Before this transaction, firmus energy was part of the firmus energy group, which also owns and operates the Ten Towns Gas Network in Northern Ireland.

Yuno Group said customers of firmus energy (Supply) Ltd will not be affected by the change of ownership.

Following the acquisition, the company will continue to operate from its current base in Antrim as a locally run subsidiary of Yuno Group.

It plans to expand the company’s operations, bringing additional job opportunities to the area.

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