Spark Energy - the specialist energy supplier to the UK lettings sector - has announced the acquisition of broadband firm Home Telecom.
The Sussex-based broadband company provides fixed telephony, internet and entertainment packages to tenants and Spark describes the deal as the ‘perfect fit’.
The purchase represents Spark’s first market move since August 2016 when a management buyout was completed.
The firm’s core products are gas and electricity, but it says it is aiming to create the first ‘multi-utility company’ built exclusively around the needs of private tenants.
“As the only energy company built around the needs of property managers, landlords and their tenants, we’ve been successful in growing a utilities solution to a national scale,” says Spark chief executive, Chris Gauld.
“I am keen to build on those strong foundations not only by investing in continued growth and improvement of our core products, but by bringing more services to our current and future customers.”
He adds: “We believe we can do more to help our partners improve their service and reduce their costs and to offer better experience for the millions of people renting in the UK.”
Spark says it will now be able to offer all its customers and letting agent partners broadband and Sky deals in a tenant-focused package, which can be from as little as six months with no exit penalties.
The company has also confirmed that it will continue to work with Global 4 Communications, which has been providing customer service and technical support to Home Telecom.
Global 4 is a nationwide company which specialises in the delivery of tailored telecoms solutions to the non-domestic market.
“This deal is exciting to say the least,” says Global 4 chief executive, and former shareholder of Home Telecom, Nigel Barnett.
“The ongoing support of Global 4 means that customers will enjoy the same great service and competitive packages from day one and that Home Telecom will grow even faster."