Pioneering Bristol-based energy supplier OVO has continued its rapid expansion into new areas of the market by taking over CORGI HomePlan, the UK’s third-largest home service provider.
The acquisition – OVO’s second this year – marks another step in diversifying from core energy supplier towards an energy services company. 
It also positions the firm ahead of rivals in the supplying intelligent energy services to customers – a fast-growth market as homes become ‘smarter’ and use of electric vehicles increases.
In February OVO bought US firm VCharge which has developed innovative systems that make transmitting renewable energy more reliable.
Both acquisitions are aimed moving OVO away from supplying energy to becoming a wider service-led business in the face of increased regulation and competition in the energy sector.
Adding CORGI HomePlan to OVO’s portfolio expands its current in-home network – which installs smart meters and smart-grid services such as VCharge – to providing the capability to install and maintain boilers, thermostats and other technology.
Since launching in 2011, CORGI HomePlan has grown rapidly with double-digit, year-on-year increases in customer numbers. with more than 150,000 customers.
OVO said CORGI HomePlan was an exceptionally strong brand and enjoyed a reputation for great customer service, delivered through its proprietary tech platform and its engineer network.
The acquisition builds on OVO’s strategy of growth and diversification, positioning the company strongly in the face of increasing competition and regulation in the market, challenging both incumbent players and new entrants.
OVO CEO Stephen Fitzpatrick said: “We are incredibly excited to welcome CORGI HomePlan into the OVO family.
“The adoption of new technologies such as smart meters, heating controls, batteries, and electric vehicles will transform the market for both energy and home services.
“By combining OVO and CORGI HomePlan’s brands and technology platforms, we are now uniquely placed to offer customers intelligent energy services to power their homes.”
CORGI HomePlan managing director Peter Southcott added: “This is very good news for our team, our customers and our engineers.
“Becoming part of OVO opens up a new world of possibilities for CORGI HomePlan – expanding the services we can offer our customers, increasing the work we bring to our network of engineers, and strengthening the skills we have in our teams.”
OVO was founded in Cirencester in 2009 by Stephen Fitzpatrick to make energy supply “fairer, greener and simpler”.
It has since attracted nearly 700,000 customers and has been recognised as the uSwitch Energy Supplier of the Year, and ranked as number one in the 2015 and 2016 Which? energy customer satisfaction surveys.
It has become one of Bristol’s fast-growing companies in recent years and employs around 1,000 people – 900 in its landmark office at Temple Circus and elsewhere in the city, and 100 in London.
