Unicom acquires Economy Gas

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Unicom has announced the recent acquisition of independent gas supplier Economy Gas for an undisclosed fee. The deal marks the first significant shift away from the telecommunication sector into other utility services.

Chris Earle, Unicom CEO, recently hinted during an announcement regarding superb financial results that the company intended to look at services outside of telecommunication industry. The first stage of this diversification plan has now completed, providing Unicom with an existing customer base of gas customers and the infrastructure required to become a gas supplier.

“The move into gas marks an exciting evolution within our company. This acquisition provides us with the tools and knowledge to add gas to our existing product portfolio; we are working hard on integrating the systems and staff to ensure a smooth, but quick, roll out to our existing customer base. This is the first of several large projects we have planned for the next 12 months which will focus on ensuring the continued growth and diversification of the business.” said Mark Draper, Development Manager, Unicom.

Unicom, recently announced financial results showing a 11% increase in sales and a 21% rise in EBITDA to the end of April 2012. The Manchester-based business saw turnover increase from £56.3 million in 2011 to £62.6 million in 2012, with EBITDA up from £16.6 million to £20 million.

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