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Midlands Wood Fuel acquisition a “perfect fit”, says Aggregated Micro chief

Richard Burrell, chief executive of Aggregated Micro Power Holdings plc (LON:AMPH) says the acquisition of Midlands Wood Fuel is a “perfect fit” and fills in the gaps that were not covered before.

The biomass supplier is to buy two more woodchip supply companies as it expands its presence in the UK market.

“The acquisition gives us a really strong customer offering in both woodchip and wood pellet,” Burrell told Proactive Investors.

In regards to further acquisitions, Burrel says there are a number of targets in the group’s sights.

“We’ve always said this market needs further consolidation, but it’s all about price and it’s all about fit,” he says.

Burrell said the group was not concerned government subsidiaries given to the biomass market would be affected by Brexit, as the government renewable targets are enshrined in UK law.

Quick facts: Aggregated Micro Power Holdings PLC

Price: 85 GBX

AIM:AMPH
Market: AIM
Market Cap: £53.88 m
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