Prominent domestic energy services firm Hometree has just acquired heating contractor IMS Heat Pumps.
This is the latest in a string of acquisitions made by the firm. Earlier this year, Hometree acquired The Little Green Energy Company and GeoWarmth Heat Pumps.
A Win Win For Both Companies
IMS Heat Pumps were founded in 1997 with hundreds of installations complete to date. The brand is known for professionally fitting heat pumps in northern England, the Midlands and Scotland. Their offices are based in Perth and Sheffield.
The acquisition will enable IMS Heat Pumps to reach a much wider customer base. Hometree has praised this move as an opportunity to combine Hometree’s wide reach and array of services with IMS Heat Pumps’ multi-decade experience.
Hometree Group is increasingly orienting itself towards green energy technology as the companies making their acquisitions list suggests. The company seeks to further prioritise the installation of low-carbon home energy hardware as well as repair and financing services.
Striving Toward A Green Future
Hometree was founded in 2015. However, since then, the firm has seen its customer base exceed 100,000. Also, according to the company website, founder and CEO Simon Phelan has raised over £85 million from investors over the years.
As the push for renewables accelerates (with heat pumps being a prominent example), it’s no surprise that companies such as Hometree seemingly want to get ahead of the curve with such acquisitions.
It is estimated that switching from a gas boiler to a heat pump represents a home energy carbon reduction of between 45% and 75%. Heat pump installations continue to increase nationwide, although challenges do remain including the installation and running costs.
Hometree Group is making strides toward capitalising on the transition to green and renewable energy. Acquisitions of green energy brands will further enable Hometree to provide low-carbon services to homes nationwide. This coincides with the UK targeting a carbon net zero society by 2050.