A Reading-based utilities firm says it has had its most successful year since it launched 16 years ago.
Leep Utilities, the owner and operator of last-mile utility networks said it has seen a 10% uplift in new contract wins, a 26% increase in contracted connections and a 26% increase in turnover compared to its previous financial year.
And it has secured more than 100,000 contracted multi-utility connections to homes and major businesses across the UK.
High-profile projects included Art’otel London Battersea Power Station, Plot A1 at Canada Water, the Axe Street landmark regeneration project in Barking and Gallions Quarter, near Royal Albert Dock, London.
The company, which has offices in Green Park, has started to roll-out new-generation automatic meters across its water networks. This enables the company to obtain live consumption data, so that its customers can better manage their water usage.
This is a growth from its launch, when Leep Utilities had an asset base of 2,000 connections within the Peel Group-only development portfolio and a team of 10 working out of a small, serviced office in Media City in Salford.
Since then, independent investment manager Ancala acquired an initial 50% of the company, in a joint venture with Peel Group. It increased this share to 90% in 2019, and also acquired SSE Water.
There have been changes to the Leep team over the last 12 months, including Lee Kitchen as chief Financial Officer, Helen Bishop as Director of Customer Operations and Brian Loft as Director of Operations.
Tim Power, director at Ancala Partners and chairman of Leep Utilities, said: “While 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.”
For more information, log on to: https://www.leeputilities.co.uk
