Founded in 2007 and headquartered in Bolton, LOVE connects small and medium-sized businesses (SMEs) with a diversified base of blue-chip utility providers, spanning energy, water and digital connectivity.
The business supports more than 80,000 unique SME customers nationwide, and has been independently recognised as the most trusted business-energy price comparison specialist in the UK by Trustpilot.
Backing investment
In September 2018, LDC invested more than £25m in LOVE to accelerate its ambitious organic growth strategy. Since then, the business has grown revenue to £23m in its latest financial year ending December 2022, with revenue forecasted to hit more than £30m in its current financial year.
LDC’s partnership is supporting the management team’s plans to expand LOVE and its corporate services division, which supports major energy users across the industrial and commercial sector. It is supporting the continued diversification of the business and further investment in its proprietary technology platform, which allows its SME customers to self-serve online.
Leveraging LDC’s network
As well as financial support, LDC has made strategic introductions for LOVE to several of its 90-strong portfolio, identifying and capitalising on the many opportunities for SMEs to make energy savings at the same time as growing LOVE’s customer base.
As soon as we started our partnership with LDC, the Value Creation Partners worked quickly to help us grow our customer base though the LDC portfolio. We are also benefiting from services provided by other portfolio businesses.”
Additional expertise
Following LDCs’ investment, Steve Weller joined LOVE’s board as Non-Executive Chairman. He brought more than 10 years’ experience driving growth at technology-led businesses and was CEO of the energy switching service uSwitch until 2018.
Expansion of offering
LOVE has also expanded its offering with additional brands to make business utilities as simple as possible for UK businesses with three of the key ones being Business Electricity Prices, Business Energy and British Business Energy.
In LDC we have a partner that not only provides the financial backing we need to turbocharge growth, but one with a strong track record of driving growth at technology-led businesses in the energy sector.”
Awards
Team of the Year
Finance Awards North West 2023
Business Masters Awards Fast Growth
2019
The Sunday Times Tech Track 100
2018
TECLA Awesome Place to Work
2018
Deal of the Year (£10m – £50m)
Love Energy – Insider North West Dealmakers