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Sparks Team
17 May 2018 · 3 min read

Lakehouse (LAKE); acquires Just Energy Solutions

LAKE has announced the acquisition of the entire share capital of Just Energy Solutions (JES), a private sector heating and renewables specialist. JES, with a staff strength of 50, provides services for large energy companies, retailers and private households.

JES, headed by Managing Director Neil Ring and based in St Albans, will complement the current activities of LAKE’s three gas compliance businesses serving public sector clients nationally. JES will provide LAKE an important adjacency in further penetration into the Industrial and Commercial and domestic markets. The combined entity will also focus on expanding geographic footprint in private sector gas and renewables. JES is also the country’s leading provider of solar buyback services. Following the acquisition, Neil will continue as Managing Director.

An immediate focus will be to provide savings in procurement to JES by leveraging LAKE’s scale and buying power. The deal involves no upfront payment, and only deferred amounts payable over two years based on profitability.

Michael McMahon, COO of LAKE, said: “Having recently secured Arbed 3 in Wales to expand our geographic reach and services to key strategic clients, JES offers us a further route into the private sector for compliance and energy services and a means of delivering procurement opportunities.”

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