FEML was founded in 2012 and is a public sector procurement and energy services specialist, based in Manchester.
The firm has a strong presence in the public sector, having been spun out of the NHS at the time of its foundation, and the two directors of FEML have over 20 years' experience in the NHS.
FEML has a large portfolio of customers including NHS Trusts/hospitals, academic and sporting institutions.
For the financial year ended 31 March 2016, FEML delivered revenues of GBP 0.65 m, EBITDA of GBP 0.47 m and generated operating cash of GBP 0.47m.
The consideration for the trade and assets of FEML comprises consideration to be satisfied by a cash payment of GBP 2.2m and the issue of 2,993,653 new ordinary shares in the capital of Inspired Energy.