GoCompare Acquires Energy Switching Specialist Energylinx
UK-based insurance comparison website operator GoCompare.com Group has announced that it has acquired Energylinx for £10m in cash. Energylinx is headquartered in Alloa, Scotland and employs a team of over 20 staff. Following completion, founder and CEO Ken Geddes will join the Group.
Highlights: (1) Energylinx is a leading energy comparison and switching specialist and has commercial relationships with more UK energy suppliers than any other comparison provider. (2) Energylinx is a provider of energy comparison services to some of the UK’s best-known consumer organizations, including Which? and Citizens Advice Bureau. (3) Energylinx operates a white-label proposition, with over 200 active affiliates promoting Energylinx’s service to their audiences.
“We are pleased to announce this acquisition, which marks yet another significant milestone for the Group as we continue to build services that work for both our customers and partners. Energylinx has an excellent reputation in the industry among energy suppliers and those who use its white-label services, and we will leverage our strong brand, tech and product capabilities to expand its reach and impact to help save even more people time and money.” – GoCompare CEO, Matthew Crummack.
Bottom Line: a strong fit with the Group’s strategy of strengthening its core propositions and driving new market growth.