Indebted Midlands Electricity is to be purchased by Scottish and Southern Energy (SSE) from its joint owners Aquila and First Energy for £1.1 billion.
Under the proposed deal SSE's network will expand by 60 000 km to 180 000 km, with a gain of 2.4 million industrial, commercial and domestic customers.

The deal, yet to be agreed by three bondholders, will also include electrical contracting business MEB Contracting, a meter reading company, a connections business and some telecoms interests. SSE will also get Midlands Electricity's 26·7% stake in Teesside Power.

If the deal goes through it will make SSE the largest power distributor in the UK. The company would add MEB Contracting to its growing installation division, which includes Southern Electric Contracting.

  • The MEB Contracting controlled franchise company Mr Electric is the subject of a management buyout for an undisclosed six figure sum.

    Clive Houlston, new managing director of Mr Electric UK, says: "For our franchises, employees and customers alike, independence from MEB will allow us to focus on enhancing our position in the electrical contracting marketplace, both for businesses and domestic customers."

    Mr Electric was originally formed in the US in 1991 and now has outlets across the USA, Australia, New Zealand, Canada, Malaysia and Portugal.

    • Source

    Electrical and Mechanical Contractor