Equitix sells Firmus (Supply)

Equitix is pleased to announce it has reached agreement on the sale of Firmus Supply, the gas supply business of the firmus energy Group to Yuno Group. Equitix acquired Firmus Supply as part of the Firmus Energy Group alongside the gas distribution network that serves the Ten Towns area of Northern Ireland.

Under Equitix’s ownership, the gas supply business has grown to become Northern Ireland’s largest gas supplier by volume, growing by over 20% during the period of ownership. Firmus Energy Supply now serves over 113,000 domestic and commercial customers across Northern Ireland. The customers and Firmus Supply employees will transfer with the business. The gas distribution network business Firmus Energy (Distribution) Limited will remain under Equitix ownership and is not part of the transaction.

The focus for the Firmus distribution network team will continue to be connecting customers to its network, which is one of the most modern and efficient natural gas networks in the world, capable of accepting Biomethane and Hydrogen. The network will play a significant part in Northern Ireland transitioning towards net zero carbon by 2050.

Read the net zero story here: https://lnkd.in/dPDrmbM

Equitix COO, Siôn Jones, CFA Jones said: “We’re delighted to be handing over the Firmus energy supply business to Yuno Group, who we believe will continue to grow the business. The partnership between Equitix and Firmus has achieved incredible outcomes in the last five years and we’re proud to have been participants in Firmus’s story of growth while delivering critical infrastructure across the UK”.

Equitix were advised by IBI Corporate Finance powered by DC Advisory and Carson McDowell. Congratulations to all our team on this significant transaction, particularly, Peter O’Flaherty, Francesco Franchi Zerbini, CFA, Rebecca Aswani and Liam Stoneley.