Private equity firm Perwyn has agreed to exit its investment in UK business utilities provider Everflow, generating a 7.2x multiple on invested capital after backing the company’s expansion over the past eight years.
Financial terms of the transaction have not been disclosed, although Perwyn described the deal as one of the largest private equity exits in North East England this year. Growth investor BGF and specialist lender OakNorth will support Everflow through its next phase of development.
Perwyn first invested in Everflow in 2018, when the business primarily operated as an intermediary between water wholesalers and commercial customers. During the firm’s ownership, Everflow expanded into a nationwide multi-utility platform, adding services including waste management and business connectivity to its offering.
The company now serves more than 120,000 business premises across the UK and has recorded annual growth of around 30% over the past three years.
The investment reflects a successful buy-and-build and organic growth strategy, with Perwyn supporting both the company’s founders and its current management team as the business diversified its services and expanded its national footprint.
Everflow focuses on providing small and medium-sized enterprises with a single provider for multiple utility services, simplifying the procurement and management of water, waste and connectivity contracts.
Chief executive Craig Dallison said the company had grown significantly since its launch in 2015 while maintaining its focus on simplifying utility services for SMEs. He added that the business has also helped customers improve sustainability by reducing water consumption and lowering carbon emissions.
The transaction represents another realisation for Perwyn, which invests in founder-led and family-owned businesses across the UK and Europe, partnering with management teams to support long-term growth and operational development. The exit delivers a strong return for the private equity firm while positioning Everflow for its next phase of expansion under its new financial backers.
