There are big changes at one of the region’s most innovative utilities companies - including an MBO.

Josh Gill, founder and CEO of Everflow the Peterlee-based utility provider specialising in eco-friendly water supply and waste collection services, is stepping back to become a director of the business.

His place as CEO will be taken by Craig Dallison, who joined the company in February last year.

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Josh said: “It’s been an amazing eight years having founded and lead Everflow on its growth journey from 1 to 200 people, from £0 to £160m turnover. It’s now time for me to hand over the reins to Craig Dallison, someone much more capable than I am for the next phase of the multi-utility growth journey.

“Craig is someone who really values people, and has proven himself capable whilst here of setting the right tone in making things simpler for our brokers and customers whilst making sure our people are looked after.”

Craig said: “I’m really excited to have the opportunity to lead our team of amazing people on this next phase of our growth, in making utilities simple for SME businesses.”

The company said lead investor, Perwyn, are partially exiting as part of the wider management buyout by the existing management team. The deal will enable the company to restructure its capital framework, and Perwyn will retain its seat on the Everflow Board.

Ravi Sharma, Partner at Perwyn and Board member of Everflow, said: “We have been tremendously impressed with Everflow’s performance. They have emerged as market leaders, capturing 26% of customer switches since deregulation.”

Josh Gill said: “Ravi and his team have played an invaluable role in our growth journey to date and their support and advice will remain key.”

The Perwyn deal team consisted of Ravi Sharma, Mike Rothwell and Mark Deed.

Advisers included WilliamsAli (Phil Williams and Abu Ali), Muckle LLP (Matt Walsh), and Hill Dickinson (David Mkhitarian).