Affect Energy sold to Octopus Energy

Affect Energy supply gas and electricity to homes and businesses in the UK. It has been operating for two years and has 40,000 energy accounts and 22,000 domestic customers, mostly located in the south east of England. It has excellent customer service and is rated 9.5 on Trust Pilot.

Two-year-old independent Affect Energy is noted for its customer service excellence. Purchaser Octopus Energy will retain Affect Energy’s operations team to continue providing their excellent service to Octopus, Affect and Iresa customers.

Fast-growing energy supplier Octopus Energy completed the purchase of Affect Energy adding 22,000 customers to its existing base of 350,000 customers. The deal for an undisclosed seven-figure sum will see Affect Energy’s customer base migrate to Octopus Energy systems and 100% renewable electricity.

Throughout the sale process, John Szymik, CEO and Founder of Affect Energy received one to one coaching and guidance from Kevin Uphill, Founder of Avondale. John said: “Kevin’s research of the market combined with his expert advice on structuring deals, equity funding and our sale options was invaluable. In addition, I found the one-to-one coaching and support he provided throughout the process critical in enabling me to make informed decisions and achieve the best outcome for Affect Energy.

Greg Jackson, CEO and Founder of Octopus Energy said: “…this acquisition is another step in Octopus’s ambition to transform the energy market. Affect’s team deliver outstanding service to customers, and it’s pleasure to acquire such a special business as we continue to grow and learn.”

John Szymik echoed this, by saying: “I am proud that we have built a business so beloved by customers. Octopus stood out among all energy retailers as the best company to take this to the next level…”