Reading’s Leep Utilities reports its most successful year yet
Reading-based Leep Utilities has reported its most successful year since the company was founded.
The company has had a 10% increase in new contract wins, a 26% increase in contracted connections and a 26% increase in turnover since its previous financial year.
In this time Leep has reached the milestone of 100,000 contracted multi-utility connections to homes and major businesses across the UK.
Leep has also made a number of appointments to senior roles in the last 12 months. Lee Kitchen was hired as Chief Financial Officer, Helen Bishop was hired as Director of Customer Operations and Brian Loft was appointed as Director of Operations.
The company have started to roll-out new-generation automatic meters across its water networks, enabling them to obtain live consumption data. The company says access to this data will allow them to better assist customers with their water usage, which means both financial and environmental benefits.
These improvements come as a result of Ancala acquiring an additional 40% of the company in 2019, this is on top of the 50% share Ancala initially held (the Peel Group held the other 50%). Ancala’s interest in Leep is now 90%.
CEO of Leep Utilities Louise Manfredi said: “We began our journey as a small subsidiary of the Peel Group, but since Ancala took a stake in our business, there’s been a significant step change in our scale, operations and performance – all of which have been clearly demonstrated by what we achieved last year.
“When Ancala invested in the business, our priority was to build out the team – with a particular focus on business development and operations so that we could establish ourselves as a real force in the wider UK independent connections market.
‘’This is exactly what we’ve done and its thanks to our talented, passionate and expert colleagues that we’re now winning connections business from some of the biggest UK developers – and are recognised as a well-respected market leader.
“Last year was our best yet, and we’re looking to the new one being even better.”
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Director at Ancala Partners and Chairman of Leep Utilities Tim Power added: “Whilst we celebrate what has been a great year of growth, we’re very much looking to the future and the many opportunities open to us in terms of UK electric, water and, in particular, heat network connections.
“With the financial backing of Ancala, Leep has enjoyed a significant increase in scale and capabilities. Now, with the new team, company structure and offering in place, we’re in an incredibly strong position to realise what is a very ambitious growth strategy.
“We’re now working within a wider market, to offer all UK developers, contractors and consultants a flexible last-mile utility solution for new residential, commercial and mixed-use developments – whether that’s to adopt electricity, water or heating networks, or a combination of them all. We’re obviously very excited about what our future holds.”
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