Worthing, UK -- British Gas has expanded its newly-founded insulation business with the acquisition of Hillserve, an insulation company serving the northwest of England and Wales, for around £5 million ($7.7 million).
Hillserve, a family-owned company based in Bredbury in Cheshire, UK, insulates around 300 000 UK properties each year, employing 159 staff, British Gas said 13 April.
British Gas was keen to acquire the company, "because of its technical know-how, expert staff and excellent reputation for customer care," the statement said.
"The insulation market is growing, and insulating homes is the cheapest way to reduce energy bills," said Phil Bentey, managing director of British Gas.
According to British Gas, currently £1 in every £4 spent on domestic energy in the UK is wasted because of poor insulation. The company expects spending on insulation to increase from around £600 million a year in 2010 to £1400 million in 2015.
British Gas is aiming to become leading supplier of domestic insulation in the UK and will employ 1100 staff over the next 18 months for its fledgling insulation business.
Polyurethane is used in a number of Hillserve's insulation applications, including wall cavity insulation and loft insulation. (RD)