OVO Energy, the UK’s fourth-largest energy supplier, is considering a range of strategic options, including a potential sale of the business, according to Sky News.
The company, which serves approximately 4.5 million customers, has reportedly engaged bankers from Rothschild to assist in this review.
Founded by Stephen Fitzpatrick in 2009, OVO Energy positioned itself as a challenger to the established energy suppliers.
The company’s significant growth occurred in 2020 when it acquired SSE’s retail supply arm, propelling OVO into the top tier of British energy providers.
According to reports, the strategic review, expected to span several months, will explore various possibilities.
These include refinancing current borrowings, issuing new shares to attract investors and possibly a partial or full sale of the business.
An outright sale is reportedly considered unlikely at this stage but remains on the table as part of the comprehensive review.
Energy Live News has contacted OVO for comment.
Make sure you check out the latest Net Hero Podcast episode:
Net zero is a way to cut your costs and help the planet, so what’s stopping you? Often, it’s just the right help and advice. That’s what we will provide at the Big Zero Show this July. Workshops, expert speakers, case studies and exhibitions. Plus, networking with 1500 peers and potential customers. Register for free now.
