Sold firm eyeing Fylde jobs boost

Michael Abbott, chief executive of Inenco, based in St Annes
Michael Abbott, chief executive of Inenco, based in St Annes

Energy firm Inenco has been sold to equity firm Vitruvian, in turn securing its future on the Fylde coast.

The chief executive of the energy group, which has its head office on St Andrews Road North, in St Annes, said the company plans to create new employment opportunites in the coming years following the sale.

Michael Abbott (pictured) added: “We’re really excited to be partnering with Vitruvian, who share our vision to consolidate our leading position in the UK and grow internationally with our fantastic client base. Inenco Group’s head office will continue to be based on the Fylde Coast in Lancashire, with other offices in Glasgow, Altrincham and London operating alongside Inenco Direct’s growing presence in Liverpool.

“Over the course of the next three years, we intend to create new employment opportunities to support the growth in demand for our services, which is fuelled by rising energy prices.”

EnServe Group, which owned Inenco before the sale, said it hoped to use the sale to focus on other areas of growth.

David Cruddace, chief executive of EnServe Group, said: “Inenco Group has achieved a market leading position through its ability to provide comprehensive energy procurement, energy management and data processing services in a market which continues to expand as more companies outsource their procurement activities in this specialised field.

“We are delighted that Vitruvian are acquiring Inenco Group and will be investing in its future growth.

“Following the sale, we intend to invest in and remain focused on driving forward the growth of our electricity, water and analytics divisions.”