Richard Burrell, chief executive of Aggregated Micro Power Holdings plc (LON:AMPH), discusses with Proactive their acquisition of the wood pellet group Billingtons. AMPH is buying Billingtons from Drax for £2mln, of which £400,000 will be in cash and £1.6mln in shares at a price of 98.5p. Based in Liverpool, Billingtons supplies 40,000 tonnes of premium wood pellets a year to more than 1,500 commercial customers from four depots.
Richard Burrell, AMP’s chief executive, said: “CPL has built a strong and well-regarded business in the wood pellet market in England over the last five years, with approximately 1,200 customers. “The acquisition is in line with AMP’s strategy to expand forest fuels with strategic in-fill acquisitions to build on its existing customer base in the wood fuels market.”