Verastar, which currently provides essential business services to micro SMEs, providing telecoms, utilities and financial services to over 140,000 businesses across the UK is getting ready for further business expansion and provide water services when the English retail market opens in April 2017.
The Manchester based group has announced a major hiring drive via the creation of over 150 new roles to be filled during 2017 which will boost staff numbers by 20%.
Verastar currently provides a range of essential services including insurance, electricity, gas, water (in Scotland), fixed and mobile telecommunications, broadband and fibre connectivity, to an estimated 9% of all the UK’s small businesses.
Verastar currently provides essential business services to micro SMEs, providing telecoms, utilities and financial services to over 140,000 businesses across the UK.
When the English water market opens in 2017, customers will be able to benefit from the full suite of services offered by kinex, Verastar’s flagship brand - kinex water is currently available to all Scottish businesses.
The company said it is confident that its prices for business water will see most businesses save money on their water bills offering them the kinex Price Promise. If customers receive a better like for like offer within 28 days of their agreement with kinex, the company will either match the offer or allow them to leave without charge.
The website describes an easy switching process, which typically only takes a 10-15 minute call, following which the company will do all of the work arranging the switch, saying:
“If you’ve never changed your water supplier then the chances are you are paying a higher price for your business water than you need be. We can offer you a range of options depending on what kind of contract you are in. Simply give our switching experts a call and they’ll talk you through every step.”
While the majority of the new jobs will be based in Verastar’s Manchester headquarters, new jobs will also be created in Hamilton and Bristol. The move follows six successful acquisitions in 2016, the latest being the acquisition of 3D Telecom’s customer base. The transaction, the sixth acquisition the company has made in 2016, is a continuation of Verastar’s rapid growth as it continues to build out its business across all service areas.
Other recent strategic acquisitions in 2016 include:
- OVO Energy (commercial customers), October 2016
- The Octopus Insurance, July 2016
- The Octopus Media, July 2016
- Crown Telecom Solutions, February 2016
- Business Comms Solution, March 2016
The company describes itself as a leading, next-generation services company for the small business market which is aiming to be the supplier of choice for small businesses of all their essential, recurring services.
Commenting on the expansion, Chris Earle, CEO of Verastar, said:
“The expanded team we are building for next year will be vital to our ongoing success. Verastar has been a clear leader in business telecommunication services, and we are delighted to welcome 3D Telecom’s customers, and we look forward to providing them with an enhanced range of great value services. We really understand how small businesses work, and how much they value being able to source multiple services from one provider. Customer service is at the heart of Verastar and we are looking forward to hiring and training Verastar’s team to meet the needs of the country’s small businesses.”
Piotr Nowosad, Strategy and Business Development Director of Verastar, added:
“We’re very pleased to announce our sixth acquisition of 2016. We continue to execute on our strategy of selective investment in companies and customer bases to further accelerate the development of our business, which will ultimately benefit our valued small business customers across the UK.”
The company is continuing to actively seek to acquire companies and customer books across a broad product portfolio including payments, insurance, telecoms, energy and ecommerce. Terms of the 3D Telecom’s transaction were not disclosed.