A North East utilities firm has been named as one of the fastest-growing companies in Europe.
The Everflow Group, which comprises business water retailer Everflow Water and software company Everflow Tech, has ranked third in the Financial Times’ annual list of the most promising businesses.
The firm, which is based in Wynyard, Teesside, achieved the ranking after its revenue rose from 363,266 euros in 2016 to 55,902,990 euros in 2019.
Chief executive Josh Gill, who set up Everflow in 2015 with the mission of making utilities simple, said: “While we knew we had ranked, it was such a surprise to see that we’d made the top five of such a prestigious list.
“When we started the business, I certainly didn’t think that just five years later we would be one of the fastest growing companies in Europe.
“It’s an incredible feeling to be ranked so high, but it’s a good endorsement and something to celebrate for the whole team, showing that all their hard work is paying off, and the results they’re achieving are truly remarkable.”
The FT1000 lists the 1,000 companies in Europe that have achieved the highest percentage growth in revenues between 2016 and 2019.
Since the list was first published in 2017, only four energy firms have previously made it into the top ten, and never a water company, making Everflow’s achievement even more noteworthy.
Everflow Water was launched in 2015, after Josh saw a gap in the market for an ethical water retailer which could utilise technology to operate efficiently. Everflow Tech was created in 2018 as a retail sales, billing and customer management platform.
Josh added: “We’ve always been ambitious, but we never expected to scale up to this level so quickly – we’ve gone from four employees in 2006 to 46 in 2019, and now we have 82 members of the team.
“This phenomenal growth has been driven by the rate customers are choosing to switch to us, because we make it so simple for them.
“We’ve made it easy for our SME customers to switch to us and engage with the market in a way in which other retailers haven’t done, and that, fundamentally, is why we’ve been so successful.
“And while we don’t spend much time comparing ourselves to other businesses, lists such as these are a helpful indicator to show that what we’re doing is working.”
The journey for Everflow is just beginning with the team having ambitious plans to continue their growth over the next three years.
Josh continued: “Our team hails from the North East and we’re all passionate about the success of the area. We’re proud to be part of the economic growth across the region, something that will remain important to us throughout our journey.”
To see the full list, visit www.ft.com/content/8b37a92b-15e6-4b9c-8427-315a8b5f4332
For more information on Everflow, visit www.everflowgroup.co.uk/