AIM-Listed energy company Aggregated Micro Power (AMP) Holdings has acquired the wood pellet assets and customer base of CPL Distribution for a cash consideration of £485,000 (€551.688).
AMP said the deal was financed from its existing cash resources.
CPL distribution is a UK-based coal and wood pellet specialist.
In addition to the customer base, AMP said the assets acquired relate to vehicles and machinery. Eight members of CPL staff are also joining AMP.
Richard Burrell, AMP’s chief executive, said: “CPL has built a strong and well-regarded business in the wood pellet market in England over the last five years, with approximately 1,200 customers.
“The acquisition is in line with AMP’s strategy to expand forest fuels with strategic in-fill acquisitions to build on its existing customer base in the wood fuels market.”
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