Jon Slade, CEO of leading software supplier Ensek

PORTFOLIO

ENSEK: Supercharging growth

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

Sector
  • Technology, Media, Telecoms

ENSEK is a leading software supplier to UK energy providers.

Deal type
  • Management buyout
LDC Region

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.

ENSEK provides products and services for 20 customers within the UK, including Centrica and Utility Warehouse, and 10 customers in the Benelux region.

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’.

ENSEK has more than doubled its revenues in the past two financial years following an increase in contracted recurring software revenue as well as increasing its headcount substantially from 65 people to more than 120.

Well placed for ongoing success

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

In August 2020 ENSEK announced the acquisition of NrgFin, a Benelux-based consultancy and data analytics company. The deal is part of ENSEK’s growth strategy to expand into new international territories within Western Europe, as well as pursuing wider growth opportunities in the UK. With this acquisition, ENSEK will set foot on the European continent for the first time.

Ensek appeared for the third consecutive year in The Sunday Times Tech Track 2020, the business was recognised as experiencing a 68% average 3 year sales growth.

Watch CEO Jon Slade discuss why he took on private equity investment and the impact it has had on his business.

We decided to take investment in 2017 partly to support the scaling of the business and to put in place the right structure, people and governance. It has had a really positive impact over the last two years enabling us to scale and move from a start-up mentality to a growth business.”
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 & 2020

Northern Tech Awards Top 100

2019

Growth Management Team

National BVCA Management Team Awards 2019