Liberty Corporate Finance is pleased to announce the completion of the management buyout of uSwitch.com, one of the most recognised brands in the UK price comparison market, by LDC. The business was acquired from Forward Internet Group (“FIG”) which has retained a substantial minority holding.
Founded in 2000, uSwitch.com is a UK-based free, impartial price comparison and switching service. It allows consumers to compare prices for a range of energy, communications and financial services. uSwitch.com employs 135 permanent staff and last year was ranked the top website by Hitwise, the leading global online competitive intelligence service, in the “Business and Finance – Utilities” category, having been runner up for the previous three years. The company has significantly accelerated its growth over recent years both organically and through acquisition, including the recent purchase of Top10.com, a popular broadband and mobile phone comparison business. LDC will focus on supporting the company’s strong management team to deliver on its clear vision and compelling growth strategy.
Liberty Corporate Finance advised the management team led by Steve Weller and including Pim Piers, Mike Jones and Julia Stent.
Steve Weller, Chief Executive Officer of uSwitch.com, commented: "The Liberty team helped us to secure a fantastic result through their experience, expertise, hard work and dedication.” Michael McDonagh, Director at Liberty commented: “We are delighted to have advised Steve, Pim, Mike & Julia on this transaction which allows them to continue to rapidly grow their business by helping consumers to save money on their household bills.”