Jon Slade, CEO of leading software supplier Ensek

Case study

ENSEK: Supercharging growth

Software business delivers exceptional growth during first year of new private equity partnership.

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Sector
  • Technology, Media, Telecoms

ENSEK is a leading software supplier to UK energy providers.

Employees: >120

Deal type
  • Management buyout

Headquartered in Nottingham, ENSEK uses its market-leading, software-as-a-service (SaaS) platform to provide existing energy suppliers with its revenue assurance and gross margin accounting product. It also provides new market entrants with the end-to-end software solution required to enter and operate in the UK energy sector.

Led by CEO Jon Slade, the business has grown rapidly since its launch in 2010 through continued investment in technology and a commitment to solving the issues faced by existing and new entrants to the UK energy market.

Capitalising on demand for data and analytics

In 2017, we backed CEO Jon Slade and his team in a management buyout of ENSEK with a minority investment.

The investment is enabling the business to embark on the next stage of its growth journey, which includes continued focus on product and new proposition development.

With energy suppliers responding to the growing demand for data, ENSEK will continue to enhance its analytics offering as an opportunity for growth.

Having a strategic partner like LDC on board has given us greater firepower both operationally and financially, enabling us to further strengthen our market proposition, while continuing to deliver high quality solutions to both existing and new customers.”
Jon Slade, CEO
ENSEK

In 2018 ENSEK announced plans to collaborate with Centrica, one of the UK’s largest gas and electricity suppliers to both domestic and business customers. Leveraging ENSEK’s software platform and Centrica’s expertise, Centrica has been working closely with ENSEK over the past year in the development of a new solution for SME energy suppliers, ‘British Gas Lite’.

Later the same year, the business announced it has delivered a period of exceptional growth in the first year of ENSEK’s partnership with LDC.

ENSEK’s revenues more than doubled in the financial year to March 2018 to £6.2m, up from £2.7m the previous year, thanks in part to winning significant increases in contracted recurring software revenue.

The firm also increased its headcount substantially from 65 people to more than 120 over the same period.

Well placed for ongoing success

The business is exploring opportunities to expand into new international territories within the USA and Europe, as well as pursuing wider growth opportunities in the UK. This includes plans to expand its services into new markets such as supporting UK water and oil suppliers.

In March 2019, it was awarded Best Performing Company and Top Performer – Industry Specific Software at the 2019 Megabuyte Emerging Stars awards.

2019 also marked the second consecutive year ENSEK has featured in the Sunday Times Tech Track 100.

This momentum looks set to continue into the new year, and with LDC’s on-going support we intend to build further on our successes and implement the next stage of our growth strategy.”
Jon Slade, CEO
ENSEK

Awards

Best Performing Company Overall

Megabuyte Emerging Stars Awards 2019

Best Performing Company (Industry Specific Software)

Megabuyte Emerging Stars Awards 2019

The Sunday Times Top Tech Track 100

2018 & 2019

Northern Tech Awards Top 100

2019

Growth Management Team

National BVCA Management Team Awards 2019