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Thursday 20 April 2017

ESG swoops on energy SaaS player, Utiligroup

esgEnergy Services Group (ESG), which provides transaction management, billing, and wholesale energy services in the US, Canada and Japan, has acquired Chorley-based Utiligroup Ltd. Utiligroup has been owned by private equity firm, NorthEdge Capital, since 2014. The Financial Times has quoted a purchase price of c£100m, but no official figure has been disclosed. uiligroup

Utiligroup provides SaaS-based solutions specifically for energy providers. It turned over £12.5m in the year to the end of March 2016 (+44%) with EBITDA up 80% to £4.5m. The purchase is an important strategic move that gives ESG access to a new geographical market, coupled with Utiligroup’s technology that can support ‘challenger’ energy providers. The Government is keen for the UK’s energy market to become more competitive, positioning ESG/Utiligroup well for any market shake-up.

ESG is backed by private equity investor, Accel-KKR, which last year saw another of its portfolio firms, Datapipe, break into the UK with the acquisition of Adapt.

Posted by Kate Hanaghan at '09:23' - Tagged: acquisition   energy  

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