Results International has advised ESG on its acquisition of Utiligroup

  • Service: M&A
  • Sector: Technology
  • Sub Sector: Enterprise SaaS
  • Engagement Type: Buy Side
Apr 2017
an Accel-KKR portfolio company
has acquired

Results International is delighted to have advised Accel-KKR and its portfolio company, ESG, on the acquisition of Utiligroup.

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.

This transaction demonstrates Results International’s expertise in vertical market SaaS and our strong transatlantic strategic and private equity relationships.

Accel-KKR has worked with Results on several occasions, including the acquisition of Utiligroup, and their partnership approach has consistently exceeded our expectations.

Park Durrett

Managing Director, Accel-KKR

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