Leading RegTech company Gas Tag has acquired independent gas compliance consultants Morgan Lambert.
The strategic deal is set to create the sector’s leading multi-disciplinary compliance consultancy to the UK social housing sector.
The acquisition is for the Millington Lord Group, which includes Morgan Lambert, who work with social landlords to provide gas and electrical auditing and safety management consultancy, as well as Qualitas Compliance, which provides similar services to the private sector.
Gas Tag is a leading Regulatory Technology company and its innovative technology has been developed to enable housing associations to meet their gas safety and associated regulatory requirements.
New research by the Gas Safe Register reveals that 66% of homes in the UK have defective gas appliances. More than 1.1 million illegal gas installations are carried out each year, putting the lives of millions of Britons at risk of carbon monoxide poisoning, gas leaks, fires, and explosions.
Both Morgan Lambert and Qualitas Compliance offer additional complementary auditing capabilities to enrich Gas Tag’s services, allowing them to expand and reinforce their continued commitment to gas safety across the UK.
Simon Millington and Mick Lord will continue to work within the business, while Lee Bradshaw, who’s worked in the company for nine years, has taken over as Managing Director for Morgan Lambert.
George Dutton, CFO of Gas Tag said: “We are extremely excited about this strategic acquisition. It’s a fantastic opportunity which will help us to achieve our vision of making the UK the safest country in the world.
“Morgan Lambert and Qualitas Compliance have a significant amount of knowledge and experience as well as an impressive list of clients who put gas safety at the heart of everything they do.
“The complementary nature of our businesses will allow for a seamless integration; creating a significant and unique offering to our key customers.”
Lee Bradshaw, Managing Director of Morgan Lambert said: “This is an exciting time for us. Both Morgan Lambert and Gas Tag have a passionate desire to improve Gas Safety within the UK and these aligned interests will allow both businesses to focus on this vision, share innovation ideas and improve the sector.”
Simon Millington said: “We have worked tirelessly to build a business based on professionalism, attention to detail and innovation. The acquisition by Gas Tag will enable further expansion of the business, taking it to a whole new level and I couldn’t be more pleased”
The positive impact of Gas Tag’s technology is having on the gas industry has been recognised in a series of prestigious industry awards.
Earlier this year private equity house Waterland invested in Gas Tag valuing it at well over £20 million.