Verastar, the leading provider of essential services to small businesses, is pleased to announce the acquisition of OVO Energy’s commercial electricity customer base. Verastar is now the clear leader in its market, providing services including electricity, gas, water, fixed and mobile telecommunications, broadband and fibre connectivity, to an estimated 9% of all the UK’s small businesses.
The acquisition marks another important development in Verastar’s strategy of growing its customer base and broadening the range of services it provides. Verastar has now completed five transactions in 2016, further diversifying its overall customer and product mix, adding insurance and digital media services alongside the essential business services which are its core offer. In 2017 the Group will be amongst the first to offer water and sewerage services to customers in England, following the issuing of a licence by Ofwat earlier this month.
The other transactions completed so far in 2016 are:
-The Insurance Octopus, July 2016
-The Media Octopus, July 2016
-Business Comms Solutions, March 2016
-Crown Telecom Solutions, February 2016
Chris Earle, CEO of Verastar, said: “We are delighted to welcome these commercial customers to Verastar. We are confident that they will appreciate the customer experience with us, which simplifies their purchasing and service delivery needs, bringing a growing range of essential business services and offering great value.”
Commenting on the Group’s strategic development he added: “Verastar today is a different business compared to twelve months ago. I am really pleased at the progress we have made across the board and look forward to building on this strong platform in the future.”
Piotr Nowosad, Strategy and Business Development Director of Verastar, said “We continue to be active in our efforts to acquire companies and customer books across a broad product portfolio including payments, insurance, telecoms, energy and ecommerce. Completing our fifth acquisition of 2016 shows our ability to execute at scale and speed as we accelerate the development of our business.”
Verastar Limited continues to be actively seeking to acquire companies and customer books across a broad product portfolio including payments, insurance, telecoms, energy and ecommerce.