Tue, 14 Jul 2026 | BUSINESS NEWS
Everflow, a utility provider based in the North East, has secured £44 million in a funding round from BGF and OakNorth, enabling the firm to accelerate its expansion across the UK and fund M&A activity.
Established in 2015, Everflow initially operated as an intermediary between water wholesalers and commercial customers, but has since expanded to become a multi-utility provider.
In the past three years, the County Durham-based company has generated 30 per cent year-on-year growth, serving over 120,000 premises.
The funding round sees Everflow receive £22 million in funding from BGF and a £22 million bespoke OakNorth funding package.
The funds will be used to support the company’s continuing expansion across the UK, drive diversification into new sectors through M&A activity and customer growth and enable it to expand its 250-strong team.
The funding will also accelerate Everflow's digital transformation strategy, including AI adoption across its internal business processes and the continued development of Evie, the company’s modular platform unifying all services within a single system.
Craig Dallison, Chief Executive at Everflow, said: “This investment comes at an exciting inflection point for Everflow, and BGF stood out as the partner to help us continue to grow at pace.”
"As a home-grown business in the North East, we’re proud of our expansion over the past decade. But we’ve also helped our customers operate more sustainably by reducing water consumption and cutting carbon emissions. These outcomes reflect our commitment to delivering both commercial and environmental value for the organisations we work with."
John Healey, investor at BGF, said that the equity investor had been struck by Everflow’s “scale and strong foothold within the UK SME water market.”
He continued: "It’s been a business underpinned by technology from day one, which has enabled it to consistently scale, innovate and disrupt the non-household water utility market. Built in the North East, Everflow has combined operational excellence and a deeply experienced leadership team with a clear vision for growth. We look forward to supporting them on their mission to make utilities simple for UK SMEs."
The investment will also involve Stuart Warriner, former lead M&A partner at PwC in Yorkshire, joining Everflow as non-executive chair.
OakNorth Director of Debt Finance Ben Kimball said: "Everflow has built an impressive business by combining a customer-first approach with technology to disrupt a traditionally underserved market.”
"Under Craig and the wider management team's leadership, the business has consistently delivered strong growth while continuing to innovate and broaden its offering. We're delighted to support Everflow alongside BGF as it enters its next phase of expansion, investing further in its platform, pursuing strategic acquisitions, and extending its reach across the UK."
Read more about the range of financing options that businesses can explore when looking to grow through M&A
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