Verastar, the leading provider of essential services to small businesses in the UK, is pleased to announce the acquisition of Aimera, one of the largest independent water providers in Scotland. Verastar supplies electricity, gas, water, fixed and mobile telecommunications, broadband and fibre connectivity and insurance services, to an estimated 10% of all the UK’s small businesses.
The acquisition is Verastar’s eighth transaction in the last 18 months, and forms part of the ongoing strategy to bolster organic growth with company and asset purchases. The group first entered the Scottish Water industry in 2013 with the acquisition of Clear Business Water Ltd, and now offers water services in England following the de-regulation of the English water market for non-household customers in April 2017.
The acquisition of Aimera will increase Verastar’s water customer volumes and provides access to new sales channels to support future organic growth. The combined group is the largest challenger in Scotland and strengthens Verastar’s credentials as it aims to take market share across the UK.
There is increasing demand from small businesses to receive their essential services from a single provider at competitive prices. To address this, Verastar continues to pursue further acquisitions across each of the industries in which it operates including telecoms, energy, insurance, and Scottish and English water.
Chris Earle, CEO of Verastar, said: “We are delighted to expand our water services with the addition of Aimera to the Group. The team at Aimera has been a pioneer in the Scottish water market and we are very happy to have them join us. We have an extensive range of essential business services, from water and energy to telecoms and insurance, to meet the needs of SMEs. Our customers want to concentrate their efforts on running their businesses, so our scale and range of services saves them both time and money. It is great to welcome another fantastic business to Verastar, and we look forward to serving our new customers at Aimera.”
Piotr Nowosad, Strategy and Business Development Director of Verastar, said “Verastar have led the way in consolidating the Scottish water market, bringing efficiency and driving down costs for SME businesses. We have already begun to replicate that model and shake up the market in England following de-regulation in April 2017. We continue to be active in seeking to acquire companies and customer books across a broad product portfolio including payments, insurance, telecoms, energy and water.”