A FIRM is set to put part of itself up for sale following a review of the business.

Bglobal has put its metering business, B Global Metering Limited, up for sale after announcing its intentions to refocus its business and take ‘significant costs’ out of its head office.

The smart meter supplier said it will keep its software services business Utiligroup. It confirmed it will not be seeking an offer for the company as a whole.

Darwen-based Bglobal, which instructed KPMG in August to conduct a review, said it was implementing a number of actions to improve performance.

Chairman John Grant, who was installed in the post earlier this year, said: “Since August 15, I, the board, the management team and employees of the company have – with the assistance of KPMG – been working hard to review the strategic direction of the company. As a result, we have taken steps to improve the performance of Bglobal, and decided to explore whether shareholder value can be further maximised through the sale of the metering business as we believe that a third party may be better placed to take this business to the next phase of its development.

“I would like to thank customers and employees for their support.”

Mike Damms (pictured below), from the East Lancashire Chamber of Trade, said: “Let’s hope the business gets an injection of finance and that the jobs will be maintained. If it’s sold and the business moves out of the area then it would be a huge shame.

“I hope whoever buys the company will have a solid business plan and the jobs will be secured by them.”

The group said the review has also shown there was considerable value in the remaining businesses in Bglobal's group and strong demand for services and the board will focus effort on developing these further.

The board has said it plans to further update shareholders when it announces interim results next month.