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Hip takeover for Green CO2

Former Thinc Destini executive deputy chairman David Collett has taken control of socially-responsible Hip provider Green CO2 in a reverse takeover of his firm Innovative Hips.

Green CO2 is now 65 per cent owned by Collett, who becomes chief executive. It is made up of several smaller Hip companies including EcoHip, which was bought last month.

Collett says further acquisitions of Hip and energy performance certificate companies are planned in the next four months. He predicts that the group will achieve £30m annual turnover in the next two to three years.

Green CO2 has already forged distribution links with financial services firms Lime – Tenet’s mortgage network – Intrinsic, Money Portal, Citri and Mortgage Options.

Collett says: “The Hip is a sensible lead-in for other financial services such as mortgages, stealing a march on the banks and building societies to capture those opportunities. Financial companies should be looking to such a strong lead-generation opportunity, especially in a recession.

“With EcoHip, we will plant a tree in the Amazon for every Hip taken and are also looking at sustainable homes. They cost the same as other Hips but around 10 per cent will go back into sustainable projects. Consumers are far more aware of the importance of giving something back.”

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