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Multi-utility provider Verastar has acquired the energy customers of Hull-based Axis for Business for an undisclosed sum.
The company, which provides energy, water and telecoms services to small businesses, will serve the former Axis customers through Kinex, one of its four brands.
Verastar currently provides water services to 110,000 accounts and electricity and gas services to 25,000 accounts.
Across Kinex, Clear Business, Unicom and Woav, the company serves 160,000 customers.
Verastar says its strong financial position means it is “well-poised” to make further acquisitions in the near future, aiming to grow its core areas.
Piotr Nowosad, group strategy director at Verastar, said: “Thanks to our strong financial position and nimble in-house mergers and acquisitions team we were able to move quickly to complete these deals and combine them with our existing insurance and energy businesses.
“Our strategy of providing all the essential services that SMEs need continues save them both time and money as they concentrate their efforts on running their businesses.
“To increase our scale and broaden our offering we will be acquiring a range of businesses, customer books and services as we continue to grow across the core areas of telecoms, energy, water, payment processing and insurance.”
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