{{Use dmy dates|date=April 2022}} {{Infobox company | name = Utilitywise | logo = Utilitywise.png | type = Public limited company | industry = Energy broker | fate = Administration/closure | founded = {{Start date and age|2006}} in Gateshead, United Kingdom | founder = Geoffrey Thompson | defunct = {{End date|2019|2}} | hq_location_city = Cobalt Business Park, North Tyneside | hq_location_country = United Kingdom | area_served = Europe<ref>{{cite web |title=Energy firm announces jobs boost |url=https://www.bbc.co.uk/news/uk-england-tyne-23252656 |website=BBC News |accessdate=9 May 2020 |date=10 July 2013}}</ref> | num_employees = 800 | num_employees_year = 2014 | website = {{URL|utilitywise.com}} }}

'''Utilitywise''' was a British energy consultancy company based in Tyne and Wear, United Kingdom. The business had operations across the UK at their North Tyneside base, Redditch, Bury St Edmonds, Portsmouth and Leicester, as well as 150 staff in the Czech Republic.

== History == Utilitywise was founded in 2006 in Team Valley, Gateshead by Geoffrey Thompson as Commercial Utility Brokers Limited.<ref name="cobalt">{{cite web |title=Utilitywise geared for growth in Cobalt Business Park move |url=http://cobaltpark.co.uk/articles/utilitywise-geared-for-growth-in-cobalt-business-park-move |website=Cobalt Business Park |accessdate=9 May 2020}}</ref> In 2010 the business was rebranded as Utilitywise.<ref>{{cite web |title=Utilitywise PLC - Overview |url=https://beta.companieshouse.gov.uk/company/05849580 |website=Companies House |accessdate=9 May 2020 |language=en}}</ref> When Utilitywise entered the Alternative Investment Market in 2012 at 60p per share the ''Financial Times'' described the business as "the belle of the ball".<ref name="ft">{{cite web |last1=Burgess |first1=Kate |title=Utilitywise is a sorry tale that might yet serve a purpose |url=https://www.ft.com/content/3f294d12-3081-11e9-ba00-0251022932c8 |website=Financial Times |accessdate=9 May 2020 |date=17 February 2019}}</ref> In 2013 the company won the AIM's "Best Use of AIM Award" and in 2014 won their "Company of the Year Award".<ref>{{cite web |title=2014 Winners |url=http://www.aim-awards.co.uk/archive/2014/winners/ |website=AIM Awards}}</ref><ref>{{cite web |title=2013 Winners |url=http://www.aim-awards.co.uk/archive/2013/winners/ |website=AIM Awards}}</ref>

In 2012 the business moved from Jarrow to South Shields,<ref>{{cite web |title=Fuel consultancy creates 200 jobs |url=https://www.bbc.co.uk/news/uk-england-tyne-17061474 |website=BBC News |accessdate=9 May 2020 |date=16 February 2012}}</ref> then in 2014 as the business was further expanding they relocated to the Cobalt Business Park in North Tyneside in the largest North East office leasing deal since 2009, taking 77,632 sq ft of space.<ref name="cobalt"/>

By 2014 the company's market value rose above £200m and had 800 employees.<ref>{{cite web |last1=Ford |first1=Coreena |title=Utilitywise staff and directors sell 10 million shares - The Journal |url=http://www.thejournal.co.uk/business/business-news/utilitywise-staff-directors-sell-10-7300342 |website=The Journal |accessdate=9 May 2020 |language=en |date=20 June 2014}}</ref><ref name="ft"/> One of the company's investors was the high-profile Neil Woodford who owned 29%.<ref>{{cite web |last1=Neate |first1=Rupert |title=Bright star to black hole: the rise and fall of fund manager Neil Woodford |url=https://www.theguardian.com/business/2019/jun/08/neil-woodford-fund-manager-rise-and-fall-investors-bright-star-black-hole |website=The Observer |date=8 June 2019}}</ref> In 2015 Utilitywise acquired Energy Intelligence Centre for £15.5 million and later rebranded that division of the business simply as EIC.<ref>{{cite web |title=Utilitywise rebrands corporate division as EIC |url=https://theenergyst.com/utilitywise-rebrands-corporate-division-eic/ |website=The Energyst |accessdate=9 May 2020 |date=13 November 2018}}</ref>

In 2017 the founder, Geoffrey Thompson, stepped down as chairman,<ref>{{cite web |last1=Ambrose |first1=Jillian |title=Energy broker Utilitywise's troubles grow as founder dumps stake |url=https://www.telegraph.co.uk/business/2018/11/10/energy-broker-utilitywises-troubles-grow-founder-dumps-stake/ |website=The Telegraph |accessdate=9 May 2020 |date=10 November 2018}}</ref> and sold his remaining 6% stake in 2018.<ref>{{cite web |last1=Ambrose |first1=Jillian |title=Utilitywise founder in talks over eleventh hour rescue bid |url=https://www.telegraph.co.uk/business/2019/02/12/utilitywise-founder-talks-eleventh-hour-rescue-bid/ |website=The Telegraph |accessdate=9 May 2020 |date=12 February 2019}}</ref>

In 2018 Utilitywise partnered with Vodafone and Dell EMC to deliver IoT energy monitoring solutions.<ref>{{cite web |last1=O'Connell |first1=Dermot |title=Save Costs & the Planet with IoT |url=https://blog.dellemc.com/en-us/save-costs-and-planet-with-iot/ |website=DellEMC |accessdate=9 May 2020 |date=25 September 2018}}</ref><ref>{{cite web |title=Intelligent Building Controls |url=https://www.utilitywise.com/wp-content/uploads/2018/02/Intelligent-Building-Controls-brochure-May-18.pdf |website=Utilitywise |format=PDF |date=February 2018}}</ref> Utilitywise entered into operations in Prague, Czech Republic when it acquired ICON Communication Centres.<ref>{{cite web |title=Square One Law advises Utilitywise on acquisition of Czech call centre operator, ICON Communication Centres |url=https://www.squareonelaw.com/news/corporate-commercial/square-one-law-advises-utilitywise-acquisition-czech-call-centre-operator-icon-communication-centres/ |website=Square One Law |accessdate=9 May 2020 |date=19 May 2014}}</ref>

In January 2019 the company put itself up for sale after announcing that it needed a cash injection of £10 million to keep the business afloat.<ref>{{cite web |title=460 jobs lost on North Tyneside as Utilitywise goes into administration |url=https://www.itv.com/news/tyne-tees/2019-02-14/460-jobs-lost-on-north-tyneside-as-ultilitywise-goes-into-administration/ |website=ITV News |accessdate=9 May 2020 |language=en}}</ref> In early February the administrators were in discussions with potential investors to rescue the business.<ref>{{cite web |last1=Ambrose |first1=Jillian |title=Utilitywise facing collapse within weeks |url=https://www.telegraph.co.uk/business/2019/02/09/utilitywise-facing-collapse-within-weeks/ |website=The Telegraph |accessdate=9 May 2020 |date=9 February 2019}}</ref>

On 14 February the company entered administration.<ref>{{cite web |title=Utilitywise goes into administration |url=https://www.bbc.co.uk/news/business-47225792 |website=BBC News |accessdate=9 May 2020 |date=13 February 2019}}</ref> Creditors lodged claims of £116.1 million at the time of its collapse.<ref>{{cite web |last1=Manning |first1=Jonathon |title=Utilitywise staff will receive £1.2m payout after firm's collapse |url=https://www.business-live.co.uk/enterprise/utilitywise-staff-receive-12m-payout-16940271 |website=Birmingham Post |accessdate=9 May 2020 |date=18 September 2019}}</ref> Initially at the time of entering administration 570 jobs were lost at its North Tyneside base.<ref name="ft"/>

In April, two months after entering administration it was announced that The Monarch Partnership had acquired the Energy Intelligence Centre and T-Mac Technologies enterprise businesses from Utilitywise.<ref>{{cite web |title=Corporate division of Utilitywise acquired |url=https://www.insidermedia.com/news/north-east/corporate-division-of-utilitywise-acquired |website=Insider Media Ltd |accessdate=9 May 2020 |language=en}}</ref>

== References == {{reflist}}

== External links == * [https://beta.companieshouse.gov.uk/company/05849580 Utilitywise Plc] at Companies House

Category:Companies based in Tyne and Wear Category:British companies established in 2006 Category:British companies disestablished in 2019