London, 12 May 2017 – OVO today announces that it has acquired CORGI HomePlan, the UK’s third largest home service provider, with over 150,000 customers.
The acquisition - the company’s second in 2017 - marks another step in OVO’s transition from core energy supplier towards creating a truly integrated, technology-enabled energy services company.
Since launching in 2011, CORGI HomePlan has grown rapidly with double-digit, year-on-year increases in customer numbers. It has built an exceptionally strong brand and a reputation for great customer service, delivered through its proprietary tech platform and its engineer network.
Adding CORGI HomePlan to OVO’s portfolio expands its current in-home network - which currently installs smart meters and smart-grid services such as VCharge - now providing the capability to install and maintain boilers, thermostats and other technology.
The acquisition builds on OVO’s strategy of growth and diversification, positioning the company strongly in the face of increasing competition and regulation in the market, challenging both incumbent players and new entrants.
Stephen Fitzpatrick, CEO of OVO, said: “We are incredibly excited to welcome CORGI HomePlan into the OVO family. The adoption of new technologies such as smart meters, heating controls, batteries, and electric vehicles will transform the market for both energy and home services. By combining OVO and CORGI HomePlan’s brands and technology platforms, we are now uniquely placed to offer customers intelligent energy services to power their homes.”
Peter Southcott, Managing Director of CORGI HomePlan, said: “This is very good news for our team, our customers and our engineers. Becoming part of OVO opens up a new world of possibilities for CORGI HomePlan - expanding the services we can offer our customers, increasing the work we bring to our network of engineers, and strengthening the skills we have in our teams.”
Caitriona Deakin, CEO at CORGI Services, said: “This acquisition represents a great opportunity for CORGI HomePlan. By joining forces with one of the UK’s leading energy suppliers, it firmly establishes CORGI HomePlan’s position in the market. Added to this, it offers many benefits for homeowners through an expansion of services and increased access to shared industry knowledge and technologies."
OVO Energy is a leading UK independent energy supplier. Founded in 2009 by Stephen Fitzpatrick, OVO Energy has redesigned the energy experience to be fairer, greener and simpler for all. With a mission of creating the world’s most trusted energy company, OVO Energy has attracted nearly 700,000 customers and has been recognised as the uSwitch Energy Supplier of the Year, and ranked as number one in the 2015 and 2016 Which? energy customer satisfaction surveys.
About CORGI HomePlan
Launched in 2011, CORGI HomePlan 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. Additional cover above these standard items such as wider central heating, taps, toilets and drains etc can also be purchased. CORGI HomePlan operates a platform with a network of approximately 5,000 engineers that are subcontracted through some 2,000 or so firms and paid on a per job basis based on time and materials.