Hull family business JR Rix & Sons is furthering its investment in the green economy with the buy-out of a sustainable energy technology provider.
It has swooped for East Yorkshire-based J Foley Electrical, a company specialising in the installation of solar panels, batteries, electric vehicle charging points, and low energy lighting.
The undisclosed deal for the Driffield firm is part of an ongoing strategy of investment, as it diversifies alongside its fuel operations. It will be rebranded Rix Energy Services Ltd, with founder James Foley heading it up.
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A team of three, with highly skilled contractors, it has operated for more than 20 years, serving domestic and commercial clients.
Rory Clarke, managing director of JR Rix & Sons, said: “For more than a century the Rix brand has been synonymous with providing the fuel to keep homes and families warm, to power businesses, and to keep vehicles moving. We are as committed to doing this today as we have been throughout our 150 year history. However, the world is moving away from traditional hydrocarbon fuels and we, as a group, are committed to making that move as well, to help create a more sustainable, environmentally friendly world.
“The acquisition of J Foley Electrical enables us to further achieve this by helping our customers decarbonise their homes and their businesses. It is a very exciting move.”
The new business will be closely aligned with new companies within the £525 million turnover Rix group, including Leasemate which is focused on the supply of primarily electric and hybrid vehicles, and Accountabl, which offers expense management and carbon accounting.
Mr Foley said the decision to sell the business he had built had not been an easy one, but was prompted by his mother’s decision to retire from an administrative role at Christmas. He added that as a family-owned business, JR Rix & Sons shared the same values of service and integrity, an important factor in the deal.
He said: “As a long-established and substantial business, Rix will be able to provide the administrative support, finance and access to the best products that will give me the ability to realise my ambition and vision to grow the business.”
It will be overseen by Duncan Lambert, managing director of Rix Petroleum. Mr Lambert said he was looking forward to helping the company’s domestic and business clients reduce their energy bills and their carbon footprint. “This is a very exciting acquisition that will enable us to bring significant benefits to our customers,” he said.
Headquartered at Two Humber Quays in Hull, the group also includes Rix Renewables serving the onshore and offshore wind industry, with Rix Shipping, Victory Leisure Homes and Jordans Cars.
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