Centrica finalises acquisition of SaaS firm ENSEK as LDC exits

Centrica, the listed energy giant, has successfully completed its acquisition of the Nottingham-based technology firm ENSEK, signalling an exit for LDC, the private equity arm of Lloyds Banking Group. ENSEK, established in 2010, specialises in digital transformation services for the energy sector and is the creator of Ignition, a platform for billing and customer account management.

This transaction, which was finalised in September 2024 following regulatory approval, marks the culmination of a strategic partnership that began in August 2021. The financial details of the deal remain confidential.

LDC initially supported the management buyout of ENSEK in 2017, under the leadership of CEO Jon Slade. The investment aimed to fuel the development of new products and facilitate the company’s growth trajectory.

ENSEK offers digital transformation services to the energy sector, specialising in software solutions that improve operational efficiency. The firm’s primary product, Ignition, is a billing and customer account management platform that streamlines processes and enhances service capabilities for energy companies.

Jon Slade, CEO of ENSEK, expressed his appreciation for LDC’s support: “LDC shared our vision and ambition from the outset, and supported us through some fundamental changes in the energy supply market,” he said. Slade also highlighted the benefits of joining forces with Centrica: “Joining Centrica, we have the opportunity to leverage our platform and team’s expertise to broaden our reach and deliver exceptional outcomes for customers.”

David Bains, partner and head of East Midlands & East of England at LDC, commended the ENSEK team’s efforts: “Jon and the team at ENSEK have continually evolved and expanded their SaaS platform over the last seven years in response to rapidly changing dynamics in the energy supply market, building a market-leading proposition in the process.” He added, “We are proud to have been part of building such a successful business with impressive annual recurring revenues. As an international business with deep energy expertise and a highly complementary service portfolio, Centrica provides the perfect strategic home for the business.”

Image: ENSEK