Utility Bidder is a leading energy broker, offering energy procurement services to UK, SME customers. Sovereign has partnered the management team to further develop the business through a strategy of organic and acquisitive growth.
Keen to further enhance the business, they appointed Chris Shaw as CEO in 2018. The founders also wanted investment to take full advantage of the market opportunities and to realise some of the value they had created in the business. They met Sovereign and really liked the strategy of scaling the business through organic and acquisitive growth. In January 2019, Sovereign backed the MBO of Utility Bidder.
At the time of the MBO, Sovereign enhanced the management team with the appointment of Mark Wood, formerly CEO of Axa UK, as non-executive Chairman. The company currently brokers energy and other utilities contracts to over 14,500 SME clients across a number of industry sectors in the UK.
Sovereign is working with the management team to further develop the business both organically and through acquisitive acquisition.
We operate in an exciting market with great opportunities. Sovereign has a tremendous track-record of backing high-quality growth businesses that have the potential to significantly scale-up. We look forward to further developing our product offering and growing our client base with Sovereign’s investment and partnership.
Chris Shaw / CEO / Utility Bidder
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