Rapidly growing Bristol-headquartered energy supplier OVO has been named as the Smith & Williamson Scale-up Business of the Year at the 2016 Lloyds Bank National Business Awards.
New for 2016, this award recognises a market-leading increase in sales, headcount, profitability, market share or geographical expansion over the past three years.
OVO Energy was formed seven years ago as a small, independent UK gas and electricity supplier based in Cirencester.
Today it has 675,000 customers – giving it 2.4% share of the UK domestic energy retail market – and employs 1,000 people – 900 in Bristol and 100 in London.
Chief financial officer Chris Houghton said: “We have a great belief in what we’re doing, and whilst there’s success in that, it’s always great to be recognised by your peers, so it’s a very special night for us.”
Guy Rigby, head of entrepreneurial services at national accountancy firm Smith & Williamson – which has a large office in Bristol – said: “OVO Energy is an outstanding example of a high-growth business that has broken into an established market and used innovation to acquire hundreds of thousands of customers and significant revenues.
“Headquartered in Bristol, the company is creating jobs and wealth, with strong staff and customer engagement. It demonstrates all the attributes of a sustainable and purposeful disruptor.”
More than 1,200 business leaders, entrepreneurs, politicians and media representatives gathered at London’s Grosvenor House Hotel earlier this week for the 15th annual National Business Awards, and together celebrated the best of British ambition.
The Awards were presented by BBC Breakfast TV presenter Louise Minchin with Lord William Hague as headline speaker.
The winners across the 18 categories included M Squared, which triumphed in the Samsung Innovation Award, Hotel Chocolat, winner of The Lloyds Bank Mid-Market of the Year category, while Frank Hester lifted the Inflexion Entrepreneur of the Year trophy.
Engineer and vacuum cleaner innovator Sir James Dyson was presented with the Lloyds Bank Excellence in Business Award – the highest accolade of the night.
Pictured: Guy Rigby of Smith & Williamson, left, with OVO chief financial officer Chris Houghton
