Energy supplier Yuno Group has bought the Firmus gas supply business in Northern Ireland in a deal understood to be worth around €40 million.
Yuno Group is one of the bigger electricity and gas suppliers in the Republic with both bill-paying and pay-as-you-go customers.
It confirmed on Thursday that it has bought Firmus Energy (Supply) Ltd in Northern Ireland from the Firmus Group, marking its first move across the border.
Neither side disclosed the price, but sources calculate that the Firmus business sold for around €40 million.
According to a statement, Firmus Energy is the biggest natural gas supplier in the North, with 113,000 homes and businesses on its books.
Cathal Fay, Yuno’s founder and chief executive, dubbed the deal “transformational”, saying it boosted customer numbers by one third and opened new growth opportunities.
“We believe we can add real value to Firmus Energy’s strong platform, and that the transaction will greatly strengthen our overall business,” he said.
The Dublin-based group owns both the Yuno and Prepay Power businesses in the Republic.
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