7 Feb 2002 – McKinnon & Clarke, the international multi-utility specialists based in Dunfermline, announced yesterday that it has completed a merger with GfE Energy Management BV, Rotterdam.
This strategic move will continue McKinnon & Clarke’s drive to become Europe’s largest utility cost control specialists, securing in excess of 40 more highly trained staff and their associated expertise.
In a statement, McKinnon & Clarke said it expected the greater international integration would ensure a higher level of market penetration, making the combined company a global leader in terms of product range, geographic coverage and the ability to service the various needs of customers – existing and potential.
The completed merger, with the acquisition of the final 35 per cent of shares, brings McKinnon & Clarke’s stake to 100 per cent ownership of GfE Energy Management BV, Rotterdam. The transaction was financed through a combination of cash funds and share package.
Sandy McKinnon, Chairman at McKinnon & Clarke said “I am very excited about this merger with GfE, Rotterdam. The Dutch company is now a fully fledged part of McKinnon & Clarke and brings to us over 12 years of experience in the utilities market and a very capable and enthusiastic team of some 40 people. With our combined experience we are even more capable than before of providing a fantastic service to our customers both in the UK and abroad.”
Both McKinnon & Clarke and GfE Energy Management, the companies will retain their individual names for the time being, however a new, single corporate structure will be formed.
“GfE’s corporate ethos is very much in line with that of McKinnon & Clarke, which is why we felt that our customers in the Netherlands could benefit from the incorporation of the two companies. Together we will continue to exceed the expectations of our clients, and expand on an international level,” said Ben van Bemmel, Managing Director, GfE Energy Management, Netherlands.