A Teesside-based water supplier is targeting growth after securing significant investment from private equity firm Perwyn.
Everflow, based in Wynyard Business Park, was established in 2015 by Josh Gill and operations director Adam Straker in order to take advantage of deregulation in the UK water industry.
The company, which supplies water to commercial businesses in England and Scotland, recently recruited James Cleave as finance director, who previously worked at Deloitte, to help with the firm’s next phase of growth.
Josh Gill, founder and managing director of Everflow, said: “The investment from Perwyn will allow us to accelerate our growth plans and take advantage of the opportunity that deregulation has presented to us.
“We believe there is gap in the market in terms of a water supplier who can offer a low-cost pricing model whilst doing the simple things such as billing effectively.”
The Perwyn team led by Andrew Wynn and Ravi Sharma said: “There is a still an education process for the market as many businesses do not fully appreciate that they have a wider choice in terms of water supplier.
“Given Everflow’s low-cost and simple pricing model, we believe there are exciting times ahead for the business and look forward to working with the management team over the coming years.”
Everflow was advised by Abu Ali from Baldwins Accountants. RG Corporate Finance advised Perwyn. Marc Allison from Watson Burton and Katherine Hey-Heddle and Imogen Holland from Ward Hadaway provided legal advice.