Quantum Energy Group Limited has received £1m in second round funding from Baring Private Equity Partners (BPEP). The private equity group also invested £5.4m in Quantum in October 1999 and is now the majority shareholder in the company.
The company says that the investment, from BPEP's Baring European Private Equity Fund, will be used to consolidate the company’s current market position and to replicate its British success in the emerging deregulated markets in Continental Europe. Roger Gill, a partner at Baring Private Equity Partners, said: “The opening up of the Continental European market place provides a wealth of opportunities in an area where Quantum is already a leading player.”
Quantum, which trades as V-is-on Gas, was established in 1994, following the deregulation of the gas industry in the UK. It is now one of the UK’s leading independent gas suppliers to industrial and commercial customers.
The company is divided into two distinct operations, Quantum Energy Distribution Ltd. (QED), suppliers of natural gas to industrial and commercial customers, and Quantum Gas Management Limited (QGM), which provides natural gas management services to major oil and gas producing companies.