NORWELL, MA and Chorley, UK, April 18, 2017 – Energy Services Group, LLC (ESG), the retail energy industry’s leading provider of SaaS solutions including transaction management (EDI), billing and CIS, wholesale energy services, and sales and pricing, announced today it has acquired UK-based Utiligroup.
The combination brings together two market leaders in their respective geographies and will enable local and global energy resellers across North America, the UK and Japan to offer business and residential consumers greater energy choice and more control of their energy consumption. The combined company enables energy suppliers with global ambitions the ability to partner with a single provider.
“ESG continues to build on our strategy of providing best-in-class technology solutions and services to energy resellers and empowering energy choice around the world,” said CEO Phil Galati. “We are incredibly excited about the opportunity to grow our market presence and strengthen our product offerings through the partnership with Utiligroup.”
According to Matthew Hirst, CEO at Utiligroup, “We have built a leadership position in the UK market by consistently innovating, using our deep industry expertise to help our customers grow and evolve with the market.” “We look forward to this next chapter, bringing the best of ESG and Utiligroup to our customers across the globe.”
The UK entity will continue operations as Utiligroup, and CEO Matthew Hirst will remain at the helm of the UK business, reporting to Phil Galati, ESG CEO. Matthew will also join the board of directors of ESG. Utiligroup and ESG will continue to maintain and support their respective solutions and will look for opportunities to leverage the best of each platform to expand their respective offerings.
Supported by private equity firm Accel-KKR, the acquisition of Utiligroup by ESG follows the successful acquisition of Latitude Technologies in November 2016.
About Energy Services Group, LLC
Energy Services Group (ESG) is the retail energy industry’s leading provider of SaaS-based transaction management (EDI), billing and CIS, wholesale energy management, and sales and pricing solutions. Offering the industry’s only end-to-end business process solution, ESG provides comprehensive and proven support for the unique business process needs of start-up retail suppliers, established global suppliers of natural gas and electricity – and to everyone in between.
ESGʼs superior technology and experienced operations staff have helped clients achieve consistent growth and profitability for more than 18 years. ESG delivers solutions that ensure rapid market entry, reduce regulatory and operational risks, improve overall business performance, and deliver superior financial results. ESGʼs 100 plus retail supplier clients support over 8 million residential, commercial and industrial customers in production behind over 130 electric and gas utilities in the US, Canada and Japan. For more information, please visit http://www.energyservicesgroup.net
About Utiligroup
Utiligroup is a market leading provider of innovative SAAS (Software as a Service) solutions to the UK utilities and energy industry growing since its formation in 1997. The company is an enabler of new energy suppliers, metering service providers and other market roles enabling responsible, compliant market entry and sustainable competitive growth. The company’s software, managed service and data insight solution portfolio empowers clients to operate at their most efficient, delivering industry leading competitive performance at scale underpinning their customer focus to deliver trust, benefit and empowerment.
Utiligroup supports over a hundred companies operating in the UK across global, national & niche players from corporates and entrepreneurs to municipal councils and communities. The company enables market leading energy Market Participant Interaction performance, continuous financial optimisation, secure real-time communications requirements of smart metering and proactive enablement of industry change. Its clients comprise Energy Suppliers, Meter Financiers, operational Meter Agents, Energy Traders, Generators, Energy Networks and Self-Supply businesses. Utiligroup is headquartered near Manchester in the UK with an expert team of over two hundred employees, extensive solution partnerships and industry change participation in the journey towards energy2.0. For more information visit http:/www.utiligroup.com.
About Accel-KKR
Accel-KKR is a technology-focused investment firm with $4.0 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through the significant resources available through Accel-KKR’s network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including credit, minority-growth investments, buyouts, divisional carve-outs and going-private transactions. For more information, please visit www.accel-kkr.com
