Kelda sells its non-household customer base to Business Stream
After a long hunt for a buyer, Kelda Group has sold its non domestic customer base to Business Stream.
The transaction, for the customers of both Yorkshire Water’s in area business retail operation Yorkshire Water Business Services and its national operation Three Sixty, more than doubles Business Stream’s market share and puts the Edinburgh-based firm among the largest players in the retail market.
The acquisition will take effect this summer, subject to regulatory approvals, after which Business Stream will manage an extended and careful transition of around 140,000 new customers. A number of key account managers will transfer to Business Stream as part of the deal.
The acquisition is the second for Business Stream, which acquired Southern Water’s non domestic customer base in 2016 just prior to the English retail water market opening, doubling its customer base in the process.
Jo Dow, Business Stream’s chief executive, said: “We will use the experience we gained from the Southern acquisition to ensure that the transition is seamless for our existing and future customers, providing them with a market leading customer experience, and access to innovative services that reduce their costs, risks and environmental impact…This acquisition will cement our position as one of the key players in the UK retail water market and help build a strong future for our staff and customers.”
Yorkshire Water’s director of finance, regulation and markets, Liz Barber (pictured), said: “Business Stream has a strong track record of delivering excellent customer service and are very experienced in the market. We are confident that they will continue to provide customers with the same high level of service they have had from Yorkshire Water Business Services. We are working closely with Business Stream to deliver a smooth transition process for our customers.”