M&A Deal Summary

OVO Energy Acquires VCharge

On February 9, 2017, OVO Energy acquired utilities company VCharge

Acquisition Highlights
  • This is OVO Energy’s 1st transaction in the Utilities sector.
  • This is OVO Energy’s 1st transaction in the United States.
  • This is OVO Energy’s 1st transaction in Rhode Island.

M&A Deal Summary
Date 2017-02-09
Target VCharge
Sector Utilities
Buyer(s) OVO Energy
Deal Type Add-on Acquisition

Target

VCharge

Providence, Rhode Island, United States
VCharge, Inc. is a developer of a proprietary technology platform that changes how electric grids are controlled in preparation for the rapid transition to renewable energy and energy storage, helping to solve the problem of renewables intermittency.

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Buyer(S) 1

Buyer

OVO Energy

Bristol, United Kingdom
Category Company
Founded 2009
Sector Utilities
Employees8,500
DESCRIPTION

OVO Energy is one of the UK’s major independent suppliers of domestic energy. Technology leadership is central to Ovo’s service proposition, enabling it to provide its customers with high levels of service at a lower cost-to-serve versus many other suppliers. It also benefits from a strong and trusted brand. OVO Energy was founded in 2009 and is based in Bristol, United Kingdom.

DEAL STATS #
Overall 1 of 3
Sector (Utilities) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Rhode Island) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-12 Corgi HomePlan

Dunfermline, United Kingdom

Corgi HomePlan Ltd. is a UK based provider of home maintenance insurance plans to homeowners. All plans incorporate heating, plumbing and electrics as standard, along with an annual boiler service.

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