NorthEdge Capital has sold energy technology provider Utiligroup to US-based Energy Services Group (ESG), which is backed by Accel-KKR.

The vendor has generated a gross 5.7x return on investment.

As part of the deal, NorthEdge will reinvest alongside Accel-KKR.

NorthEdge initially backed Utiligroup in a management buyout in June 2014. Since then turnover has increased by more than 200 per cent.

The company employs around 220 staff and provides services to more than 40 UK energy suppliers.

This is the fifth exit from NorthEdge’s maiden fund, for which it raised £225m.


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