On Tuesday 1st May 2018, Flowgroup plc (“Flowgroup”) completed the sale of its main subsidiary Flow Energy Limited (“Flow Energy”) to Co-operative Energy Limited (“Co-op Energy”).
Flow Energy is an energy supply business providing gas and electricity to approximately 230,000 domestic fuel accounts. The business is based in Ipswich, UK and, for the year ended 31 December 2016, had audited revenues of £98.4 million. Flow Energy represents the primary business activity of Flowgroup, which is AIM-listed.
Co-op Energy is a UK-based domestic energy supply business and wholly owned subsidiary of The Midcounties Co-operative.
Smith Square Partners acted as sole financial adviser to Flowgroup.