Energy Assets, the largest independent provider of industrial and commercial (I&C) gas metering services in the UK, has received a £10million funding boost to help its growth plans.
The Livingston-based group, has secured an the extension to its current facility with Lombard, the asset finance division of The Royal Bank of Scotland Group, taking total facilities from the Group’s three main funding partners to £110m.
EA now has £33.9m of undrawn facilities to fund future growth.
John McMorrow, chief finance officer of Energy Assets, said the deal “further strengthens our ability to achieve our strategy of growing the Energy Assets I&C meter portfolio.”
Laurence Jamieson, of Bank of Scotland, said: “Energy Assets continues to set the bar for progress in the sector both through organic growth and acquisition, recently reporting a group operating profit increase of 25% for the first half of its financial year to September 2015.”
