A management buy out appears to be on the cards for Spark Energy, an energy supplier to the lettings and social housing sectors.
The MBO is led by chief executive Chris Gauld and chief finance officer Hamish Osborn.
Four large institutional investors, including a major UK pension fund, a European family office and a Middle Eastern investment bank, are backing the deal.
The value of the MBO has not been disclosed but a statement from a PR firm on behalf of the firm says the deal - if concluded - would “significantly increase access to growth capital, in order to allow rapid expansion.”
Spark Energy shareholders are being sent details today, with the support of 75 per cent required. If approved, the transaction is expected to be completed in August.
The firm employs 350 people and was founded in 2007. It is thought the firm has around 120,000 customers, most of them signed up to the firm through tenancy agreements.
Lettings sector energy firm Spark has announced that it is launching...
Spark Energy - the specialist energy supplier to the UK lettings...
The acquisition of popular rental sector utility provider Spark Energy will...
One of the UK’s largest independent letting agency chains, Leaders, has...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
B-hive Block Management Partners Celebrates Major Milestone With Over 100 Businesses...
We’re absolutely delighted to announce that, after 10 years, we’re able...
You don’t have to simply accept things as they are when...
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
The benefits for letting agents to outsource their client accounting is...
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment