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LONDON - Private investment firm HGGC has agreed to acquire energy and sustainability services provider Inspired PLC for 81 pence per share in cash, valuing the company at approximately £183.6 million ($233 million) on a fully diluted basis.
The offer represents an 18.2% premium to the unsolicited 68.5 pence per share bid made by Regent Acquisition in April, and a 32.8% premium to Inspired’s closing price of 61 pence on April 17, the last business day before Regent’s offer was announced.
Inspired’s board has unanimously recommended shareholders accept HGGC’s offer. The company provides technology-enabled commercial energy and sustainability advisory services to help businesses transition to net-zero and manage their climate change response.
HGGC has secured indications of support from shareholders representing approximately 40.2% of Inspired’s issued share capital, including irrevocable undertakings from Inspired directors, Gresham House, and Otus.
The private equity firm, which manages over $8 billion in capital commitments, stated it believes Inspired would benefit from operating as a private company given its diversification into optimization services and revenue volatility.
"We are enthusiastic about supporting Inspired and its management in the next phase of its journey to become a fully integrated, data-enabled energy services provider in a dynamic market," HGGC said in a statement.
If the offer becomes unconditional, HGGC plans to suspend dividend distributions to prioritize internal investment and growth initiatives. The transaction is expected to be completed during the third quarter of 2025, according to the press release statement.
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