Everflow, a UK-based utility provider that offers eco-friendly water supply and waste collection services to businesses, has announced plans to expand its services beyond the water market following a successful management buyout. As part of the transaction, existing management will acquire a majority stake while lead investor Perwyn partially exits. Despite this, Perwyn will retain a significant minority share and remain on the Everflow Board, supporting the company’s strategy for organic growth and expansion into multiple utility sectors. Everflow aims to use its technology-focused approach, which previously resulted in gaining a 26% share of customer switches in the UK water market, to lead in other utility verticals, including telecoms.
Perwyn invested in the company in 2018 and benefited from the deregulation of the UK water market by capturing opportunities through Everflow’s technology-driven services. The investment firm’s partner and board member, Ravi Sharma, praised Everflow’s performance and expressed confidence in the management team’s ability to navigate new markets. Everflow’s founder and CEO, Josh Gill, acknowledged Perwyn’s enduring support and stated that the company had learned how to maximise advantages in UK utilities markets.
This news highlights the company’s expansion plans and demonstrates its ability to retain investment support from key stakeholders. As Everflow shifts its focus towards other utility verticals, it will undoubtedly face challenges, but its technology infrastructure and experience gained during its growth in the UK water market position it favourably to take advantage of new opportunities.