International law firm Dorsey & Whitney LLP announced today that a team of its London-based lawyers led by Partner Fabrizio Carpanini represented the founders of Energy Helpline (EHL) and UK Web Media (UKWM) in the recent combination of those two companies by Inflexion Private Equity to create Comparison Technologies, which was also represented by the Dorsey team.
Comparison Technologies will be a multi-channel price comparison enabler in home services (energy, broadband, television and telephone). The formation of Comparison Technologies through the combination of EHL and UKWM creates the only independent player in the United Kingdom that provides multi-channel price comparison across the full home services category. This will enable consumers to get the best switching opportunities from energy, broadband, television and mobile providers. Price comparison is rapidly becoming an important component of the sizeable home services market. Consumer demand for comparison and switching in home services is growing as people have more choices, both from new and existing suppliers. In energy, the regulator is focusing on driving down prices for consumers across all suppliers. In digital TV, broadband and mobile phones, consumers are now looking for independent advice to navigate increasingly complex and varied product offers. The financial terms of the transaction were not publicly disclosed.
Founded in 2002, EHL is a price comparison tool for the electricity and gas sectors, providing access to over 45 energy suppliers, serving both consumers directly through its website, as well as partners such as national press and home services companies, including The Mail, The Telegraph and The Mirror. UKWM was founded in 2001 and is a marketing solutions and price comparison business with websites primarily covering digital TV, broadband and mobile phones.
In addition to Private Equity Partner Fabrizio Carpanini, who has extensive experience in all phases of private equity transactional work in the United Kingdom, Europe and the United States, the London-based Dorsey team on the Comparison Technologies transaction also included Private Equity Partner Carsten Greve, Tax Partner Michael Cashman, Labour & Employment Partner Bob Cordran, as well as Associate Christina Samaan.
“I am really excited about this opportunity to grow our two businesses faster than before. We plan to build on the strengths of both EHL and UKWM to create a distinctive home service comparison business that will enable more consumers to save money and receive better service on products that families use every day. During the project to create this exciting opportunity, we relied on support from Fabrizio Carpanini and his team at Dorsey & Whitney (Europe) LLP to provide legal advice in connection with the investment of private equity, used to bring our two businesses together. This contribution was invaluable in helping us to succeed,” said Paul Green, CEO Comparison Technologies.
“This was a tremendously exciting transaction for us to work on,” noted Fabrizio. “Inflexion Private Equity is an innovative private equity sponsor, and they appreciated the powerful synergies possible in combining EHL and UKWM to form a new independent company in Comparison Technologies to meet the explosive demand for price comparison in home services. It is really a privilege to be involved in the creation of Comparison Technologies, and we look forward to supporting CEO, Paul Green and his management team in the further expansion of the business.”