Spark Energy acquires broadband company and targets multi-utility growth
May 16, 2017 by Spark Energy
Spark Energy, the specialist energy supplier to the UK lettings sector, today announced it has acquired Home Telecom, the Sussex-based broadband company, in a deal described as “a perfect fit”.
Spark’s acquisition of Home Telecom, a supplier of fixed telephony, broadband and entertainment packages to the tenanted market, is the company’s first since a management buyout (MBO) was completed in August 2016.
Creating the first multi-utility company built around the needs of the growing rental sector, the deal builds out from Spark’s successful core gas and electricity products which offer better service, lower costs and less hassle for large scale property managers, social housing bodies, government contracts and their tenants.
Spark CEO Chris Gauld said: “As the only energy supply company built around the needs of property managers, landlords and their tenants, we’ve been successful in growing a utilities solution to a national scale saving time, hassle and money for our all of our customers and partners along the way.
“I am keen to build on those strong foundations not only by investing in continued growth and improvement of our core products and service, but by bringing more products and services to our current and future customers. We believe we can do more to help our partners improve their service and reduce their costs and to offer better experience for the millions of people renting in the UK.
“With this acquisition, we are strengthening our offering, creating more reasons for customers to join and stay with Spark and adding further value to our letting agent, social housing and property aggregator clients.
“Home Telecom is a perfect fit for us, creating the only genuine multi-utility company for tenant customers. With Fast Track connection, contracts tailored to lease lengths, exclusive Sky TV offers and competitive packages, we couldn’t be in a better position to continue our growth.”
Spark will continue to work with Global 4 Communications which has been providing customer service and technical support to Home Telecom. Global 4 is a nationwide company which specialises in the delivery of tailored telecoms solutions to the non-domestic market.
Global 4 CEO, and former shareholder of Home Telecom, Nigel Barnett, said “This deal is exciting to say the least. I’ve worked with Chris and his team for the last five years, and seeing first-hand how Spark has grown into a major player in the energy industry means this acquisition was the right decision for us. The ongoing support of my company, Global 4, means that customers will enjoy the same great service and competitive packages from day one and that Home Telecom will grow even faster.”
Spark will now be able to offer all its customers and agents broadband and unique Sky deals in a tenant-focused package which can be from as little as six months in length with no exit penalties.