A Teesside-based water supplier has secured funding from a private equity and private debt investor.
Everflow, based in Wynyard Business Park, is looking forward to a period of growth following the investment from private equity firm Perwyn.
The company, which supplies water to commercial businesses in England and Scotland, has recently recruited James Cleave as finance director, who previously worked at Deloitte, to help with the firm’s next phase of growth.
Everflow founder and managing director Josh Gill said: “The investment from Perwyn will allow us to accelerate our growth plans and take advantage of the opportunity that deregulation has presented to us.
“We believe there is gap in the market in terms of a water supplier who can offer a low-cost pricing model whilst doing the simple things such as billing effectively.
“Delivering technology-driven solutions that reduce water consumption and costs for businesses is a key part of our growth plans and we look forward to working with the Perwyn team to that end.”
Everflow was established three years ago by Gill and operations director Adam Straker in order to take advantage of deregulation in the UK water industry.
• Pictured above: Perwyn partner Ravi Sharma with (back left to right) Everflow managing director Josh Gill and operations director Adam Straker, finance director James Cleave and Abu Ali, corporate finance director of Baldwins Accountants which advised on the deal.