# Utility Aid announces completion of MBO

- Link: https://fundraising.co.uk/2017/02/10/utility-aid-announces-completion-mbo/
- Published: 2017-02-10T10:20:47+00:00
- Author: Melanie May

**Utility Aid’s management team have announced the company’s MBO, having bought 
out the company for an undisclosed sum in a deal backed by new investors Peter Cullum
and Neil Utley, together with Andrew King on behalf of the King Group of Companies.**

Management team Giles Hankinson (pictured), CEO of [Utility Aid](http://www.utility-aid.co.uk/)
and Non-Executive Directors, Guy Fraser-Sampson and Andy Homer, led the MBO, which
was completed on 24^(th) January.

Utility Aid was formed 19** **years ago, and employs 37 employees across five locations;
Blackpool, Birmingham, Norwich, Sleaford and Glasgow. According to Utility Aid, 
it works with 27 out of 30 suppliers, and with around 1,800 charity clients including
[Citizens Advice Bureau](https://www.citizensadvice.org.uk/), the [MS Society](https://www.mssociety.org.uk/),
and [YMCA](http://www.ymca.org.uk/).

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Giles Hankinson said:

> “These are very exciting times as we continue to drive the company in the next
> phase of growth, notably of regulation in the utility broker sector which is ripe
> for consolidation. Our culture and strategy is to provide the best deal possible
> for our clients.
> “Having the right team is a priority in helping us execute our strategy, so I 
> am delighted to be working with Peter, Andy and Neil. With their extensive knowledge
> of the insurance and broking business, and their experience in building businesses
> in a heavily regulated space, they are the ideal partners as we continue to campaign
> for much needed regulation. “

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