Acquisitive M Group Services strikes salient deal
Founded in 2001 and based in Newcastle, Salient has worked successfully with Callisto, a part of M Group Services’ energy division, for several years. The deal includes Salient’s proprietary software, people and client contracts.
The transferring assets will be incorporated into Callisto under the leadership of managing director Richard Orna. With clients including energy suppliers and metering asset owners, the acquisition will enhance M Group Services’ offering for the market-wide half hourly programme being implemented from 2024.
M Group Services chief executive Jim Arnold said: “Acquisitions are a fundamental part of our growth strategy as we continue to enhance the scope and scale of the group’s capabilities.
“This addition, which will become part of Callisto, will enhance our capability and capacity to provide a unique, market-leading offering to our clients, specifically a Market-wide Half Hourly Settlement service as the industry transitions towards net-zero.”
The acquisition of trade and assets from Salient Systems will take the total number of acquisitions made by M Group Services to 17 since December 2016.
Accountancy and business advisory firm Azets worked on the deal.
This article was published in Insider Media – 31st August 2022.