London Electricity (LE) Group has increased its portfolio of gas and electricity brands to four, following the acquisition of Seeboard from US parent company American Electric Power (AEP) on Tuesday 18 June. LE Group, a subsidiary of Electricité de France, already includes the Virgin Energy, LE and SWEB brands.
The acquisition raises questions about Seeboard’s senior management team, which is led by the chief executive John Weight, managing director Peter Hofman and marketing director Nigel Samuels.
It is likely that Jon Kinsey, who was promoted to managing director of LE Group last year, will be given more responsibility. He was formerly managing director of the Virgin Energy brand (MW October 18).
The position of Seeboard’s agency Designate Advertising, which handles the company’s &£2.5m creative and media accounts, is also expected to come under threat following the acquisition.
LE Group is in talks with both creative and media agencies about reviewing its LE and SWEB accounts, worth &£1.8m (MW March 28). LE’s incumbent for both creative and media work is First City Advertising. Interfocus is the incumbent for SWEB.
A spokesman for LE Group says: “It is too early to say how exactly the Seeboard business will be integrated to the LE Group. The acquisition is subject to European Commission approval at the moment.”