eLight Group Holdings has acquired a UK-based LED Light as a Service (LaaS) company which has been in operation since 2014. Now re-branded as eLight Works, the LaaS company previously registered as Energy Works had revenues of £3.5m in 2017 and completed over 100 projects for commercial clients in the UK and the Gulf States.
The expanded group intends to investing €100m in projects over the next three years.
The group will be looking for opportunities in new markets. eLight Group is anticipated to achieve a combined turnover of €12m. Ian McKenna, finalist in the EY Entrepreneur of the Year 2017 is the managing director of eLight Ireland and Harvey Sinclair the managing director of eLight UK.
The new Group will be headquartered in Co.Dublin, Ireland with offices in London and will have a combined workforce of 40 which is expected to double over the coming 12 months in line with expectations.