firmus energy sells gas supply business to Yuno Group

The supply business has grown to become the North’s largest gas supplier by volume, since operations commenced in 2005, and now serves over 113,000 domestic and commercial customers.

The gas network business, firmus energy (Distribution) Ltd. will continue to own and operate the ‘Ten Towns’ gas network in the North, which includes Derry.

Firmus energy (Distribution) Ltd. will continue to focus on connecting customers to the gas grid, and enabling the injection of locally produced renewable gases, such as biomethane, into the network.

The change in ownership of firmus energy (Supply) Ltd. will be seamless for customers, who will not be required to take any action as a result of the acquisition.

Following the acquisition, the company will continue to operate from its current base in Antrim as a locally run subsidiary of Yuno Group. Yuno Group intends to expand the company’s operations, bringing additional job opportunities to the area.

Niall Martindale, Chief Executive Officer (CEO) of firmus energy (Distribution) Ltd. said: “We are very proud of the gas supply business which has been built over the last 19 years and we are grateful for the loyalty which customers have shown to us over that time.

"The supply business is now ready to stand alone, and we are confident it will go from strength to strength under the new ownership of Yuno Group, following tremendous growth under its tenure with Equitix.

“We will continue to own and operate the networks business, where our focus will be the continued growth of connections to our gas network, and the injection of renewable gases such as biomethane, which will support a strong local, and circular, decarbonised economy for Northern Ireland.”

Equitix Chief Operating Office (COO), Sion Jones said: “We’re delighted to be handing over the firmus energy supply business to Yuno Group, who we believe will continue to grow the business.

"The partnership between Equitix and firmus has achieved incredible outcomes in the last five years and we’re proud to have been participants in firmus’ story of growth while delivering critical infrastructure across the UK.”

Yuno Group is led by Cathal Fay and is based in Sandyford Business Park in Dublin. Founded by Fay in 2009, the company is one of the largest players in the Electricity and Gas retail markets in Ireland.

Mr. Fay, founder and Chief Executive of Yuno Group, said: “This is a transformational deal for the group. It increases our customer base by a third, hugely increases our customer numbers in gas, and opens up an exciting new avenue for continued growth in a new market (NI).

"We believe we can add real value to firmus energy’s strong platform, and that the transaction will greatly strengthen our overall business.

"We recognise the outstanding service provided to customers of firmus energy and we are committed to building upon this to further enhance the services we offer to all our customers across Northern Ireland.”