Solar PV, battery storage and end-to-end EV charging company The Phoenix Works has been acquired by Liberty Global.
The move follows the company’s previous parent company Retig going into administration in September. Following this, energy company Tonik Energy which was also owned by the company, went bust in October.
Since then, The Phoenix Works’ co-founders and directors Thomas Newby and Matthew Morgan have accelerated the process to find a new strategic investor, leading to the acquisition by Liberty Global.
Newby said that becoming part of the group was a “great opportunity for us, and an exciting moment for The Phoenix Works”.
“Liberty Global shares our deep-rooted entrepreneurial, start-up energy, and they are hugely supportive of our ambitious growth plans over the coming years.”
As part of the acquisition, Newby and Morgan will remain as directors, while Jonathan Pearson, Liberty Global’s MD, capital allocation and business control and Jason Simpson, Group head of energy, will join the Board of Directors.
Simpson added that the company was “delighted” to be able to acquire The Phoenix Works, “supporting the company's ambitious plans in the smart energy market”.
“This fits well with our existing involvement in the EV charging space and our own internal requirements for onsite renewables and fleet electrification to support our sustainability agenda.”
The acquisition by Liberty Global – which focuses largely on video, broadband and communication companies, and owns Virgin Media – will allow The Phoenix Works to continue to grow, with a particular focus on EVs after the recent news that the ban on internal combustion vehicles is being brought forward to 2030.
Morgan finished: “2020 has seen testing times but we are now very happy to be truly back to business-as-usual. Having Liberty Global as a parent company will enable our continued growth and ensure our industry leading service levels are maintained.”
The Phoenix Works was established in 2010, in Farsley, Leeds and has grown to provide deign, installation and ongoing maintenance services of clean energy technologies including solar for the likes of Menzies Distribution, North East Combined Authority, Leeds City Council, City of York Council, ASDA, Royal Mail and Best Western.