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Utilitywise

Information

Utility WiseUtilitywise plc, a leading independent utility cost management consultancy, created more jobs with its moves to larger premises at Cobalt Park with the support of North Tyneside Council.

 

The move to flagship headquarters follows excellent financial results, which saw the company report a 105 per cent increase in revenue to £21 million.

 

The company, which started out as a four-man operation based in a Regus serviced office on the Team Valley in 2006, now employs 640 in the North East and also has sizeable bases in Redditch, Bury St Edmonds, Portsmouth and Leicester, as well as 150 staff in Prague.

 

The consultancy helps businesses get more value out of their energy and water contracts, reduce their utility consumption and lower their carbon footprint. The office move will allow Utilitywise to employ an additional 560 staff in the coming years as the company continues to expand.

 

Its CEO, Geoff Thompson, was determined to maintain the headquarters in the region, despite clearly having options to move the main base elsewhere, and that all current staff will migrate to the flagship building, including more than 100 from South Tyneside, which represents 17% of the UK workforce.

 

He said: “In only eight years we have grown from four employees based in Gateshead to today with over 800 members of staff located across the UK. With more-and-more businesses large and small looking to become energy efficient, we are confident there is further growth ahead and we are moving to larger offices to prepare for that expected demand.

 

“We have enjoyed a period of rapid growth from our headquarters in South Shields and have conducted a thorough evaluation of all of our property options in the region. This office move will prepare the company for future growth that will benefit the local economy with employment opportunities.”

 

The firm’s future plans include organic and acquisitive growth, and Utilitywise is currently exploring further buyout options, having made four key acquisitions over the last two years, most recently the buyout of Prague-based communication company ICON.

 

Geoff continued: “We are still an acquisitive company and a few opportunities are being explored at the moment.

 

“The idea is to look at firms which add to our offering, and in that I’m speaking about control and demand management so we can help our customers to procure power more effectively but also monitor and control it, and become more energy and utility efficient, so we are looking at opportunities to acquire a capability and add further value for our customers.”

 

The letting of 77,632 sq ft to Utilitywise is the largest office leasing deal in the North East since 2009.

 

Visit: www.utilitywise.com

 

To find out how to grow and expand your business in North Tyneside, contact us on 0191 643 6409 or email business@northtyneside.gov.uk

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