Calisen announced plans for a restructuring of its Lowri Beck business unit on Thursday, in a bid to make it a leaner, more efficient and sustainable business.
The London-listed firm described Lowri Beck as a capability-enhancing acquisition, which it made last August, to enable it to provide meter installation services to the growing independent energy supplier segment.
Calisen and Lowri Beck had worked together for a number of years, meaning the business was well-known to the board at acquisition, including that it was loss-making at an operating level – a trend that continued into the first quarter of 2020 when the coronavirus pandemic halted meter installations.
A new leadership team was in place at the start of the year, and went …
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