Love Energy has grown rapidly, under the leadership of CEO and co-founder Phil Foster. For the financial year ending 31 December 2017 it recorded revenues of £17.4m (2016: £13.2m) and today supports more than 40,000 customers nationwide. It has also been independently recognised as the most trusted business energy price comparison specialist in the UK by TrustPilot and as the second highest rated company for work-life balance in the UK by Glassdoor.
In September 2018, LDC invested more than £25m in Love Energy to further accelerate organic growth. This will include the expansion of Love Energy Solutions, its corporate services division which supports major energy users across the industrial and commercial sector, further investment in its proprietary technology platforms and continued diversification into the water telecoms and insurance markets.
As part of the deal, Steve Weller will also join the board as non-executive chairman. Weller has more than 10 years’ experience driving growth at technology-led businesses and was CEO of the energy switching service uSwitch until July 2018, where he worked closely with LDC during its support of the business between 2013 and 2015.
In October 2019 LDC's partnership with Love Energy won 'Deal of the Year (£10m - £50m)' at the North West Dealmaker awards.
Bringing LDC on board will enable us to build on this momentum and ensure we can continue to give our customers, old and new, an unrivalled service when it comes to quality and value for money. In LDC we have a partner that not only provides the financial backing we need to turbocharge growth, but one with a strong track record of driving growth at technology-led businesses in the energy sector.Phil Foster, CEO and Co-Founder, Love Energy Savings