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Inspired PLC - Preston, England-based energy advisory and sustainability services provider - Enters into a deed of variation with Ignite Energy Ltd vendors to provide long-term incentives. Says deed allows vendors to secure up to £9.3 million of additional earn out consideration if they generate cumulative earnings before interest, tax, depreciation and amortisation of around £64.1 million in 2026.
On July 10, 2020, Inspired acquired a 60% stake in Ignite for an initial consideration of £11 million, comprising £5.5 million cash and GBPP5.5 million of shares. This followed Inspired Energy’s investment in the initial 40% of Ignite in August 2019 for £5 million. The purchase included a further contingent consideration of up to a maximum of £19 million in cash and shares, payable depending on the achievement of certain performance criteria.
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