Deal

Everflow undergoes management buyout

Advisers to utilities firm, Everflow, on its management buyout.

Deal type

Corporate Finance, Debt Advisory, M&A advisory, Management buyout & buy-in, Selling a business

We’re pleased to have supported Everflow, a Durham-based utilities supplier, expand its range of services, following a management buyout which saw lead investor Perwyn partially exit the business.

Perwyn originally invested in Everflow, which provides eco-friendly water supply and waste collection services to businesses across the UK, in 2018. The firm is exiting as part of a wider MBO by the existing management team but will maintain a significant minority stake and retain its seat on Everflow’s board.

Perwyn will continue to support the company’s strategy to sustain organic growth and venture into multiple utility sectors, with plans to explore new verticals.

Our Corporate Finance team led by Partners Phil Williams and Abu Ali advised Everflow on the MBO.

Josh Gill, Founder and Chief Executive of Everflow, said: “We are grateful to Perwyn for their enduring support of Everflow and are very pleased that they will remain shareholders. Ravi and his team have played an invaluable role in our growth journey to date and their support and advice will remain key as we look to substantially scale the business into different utility verticals.

Ravi Sharma, Partner at Perwyn and Board Member of Everflow, said: “We have been tremendously impressed with Everflow’s performance. Their journey began in 2017 when the UK water market deregulated, and it has been truly satisfying to witness its remarkable growth, now serving over 60,000 customers – Josh and his team have done a phenomenal job.”

Legal advice was provided by Muckle LLP.