Kier acquires renewable energy firm
The Kier group has announced the acquisition of Beco – a company that designs and installs renewable energy sources, principally focused on solar technology.
Beco was one of the first organisations to become a government-approved installer of photovoltaic cells.
The company is to become the delivery arm of Kier’s newly formed business unit Kier Energy Innovations and will strategically position Keir to respond to the government push for carbon reduction.
Beco partners Nigel Brunton-Reed and Hilary White, together with the Finance South West Growth Fund formally signed over the Beco’s entire share capital to Kier. Beco managing director Mr Brunton-Reed will join the board of KEI.
Kier Group chief executive Paul Sheffield said: “We are delighted to complete this acquisition, which gives us the capability to design and deliver PV installations across our wide network of businesses across the country.
“It will accelerate our access to a growing opportunity and enable us to respond to the needs of our customers to provide energy saving solutions to their commercial and domestic premises.”