Mayfair Equity sells OVO retail energy business to EON
The transaction transfers the OVO operating company, its retail customer base, and brand to the German energy group.
Takeaways
- OVO retail energy business is a retail energy business.
- Mayfair Equity Partners is selling OVO retail energy business to EON.
- The business serves retail energy customers.
Mayfair Equity Partners has exited its position in the OVO retail energy business, selling the unit to EON in a deal that hands the German energy group both the OVO operating entity and its household supply contracts.
Included in the sale are the OVO operating company, the retail customer book, and the OVO brand name.
The business provides electricity and gas to residential customers, though its geographic footprint and customer count were not detailed at announcement.
Mayfair had held the retail energy asset within its portfolio, backing the platform during a period of expansion before carving out a sale to a strategic utility player.
The exit leaves EON with a branded residential energy offering that complements its existing European retail operations.
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