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Rental market specialist Spark Energy acquires broadband firm

Acquisition makes the Selkirk-based company a 'multi-utility' firm and adds value for its letting agent customers.

Nigel Lewis

Specialist private rental market utility company Spark Energy has acquired Sussex-based broadband, telephone and entertainment packages firm Home Telecom creating what the merged companies describe as the first “multi-utility” firm for the rental sector.

Home Telecom, like Spark Energy, has been striving to exploit the huge growth in the private rental sector market in the UK with packages more suited to those renting via Assured Shorthold Tenancy contracts.

Specialist provider

Spark Energy is one of several specialist providers seeking to challenge the ‘big six’ suppliers in the UK and last year revealed that it is profitable and generating rising revenues, no mean feat in a highly competitive market where many start-up energy companies have floundered.

Chris Gauld spark energyCEO Chris Gauld (pictured) last year told the Financial Times that he expects to see his company’s revenue double by the end of 2018.

“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,” says Chris.

“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.”

Gauld says the merger adds another reason for customers to join and stay with Spark and adding further value to its letting agent, social housing and property aggregator clients.

Spark Energy has been trading since 2007, while Home Telecom was first established in 2010.

May 16, 2017

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