Tech firm energised for growth after takeover

An energy sector tech firm is eyeing growth after a takeover.

Volue has bought Quorum Developments.

Bosses say the “milestone” deal will accelerate County Durham-based Quorum’s growth “at a pivotal time in the evolution of the UK energy industry”.

They add it will support Oslo-headquartered Volue’s goal to deliver “a secure, sustainable energy system for the future”.

Under the terms of the deal, Quorum’s senior management team will be retained.

Based at NETPark in Sedgefield, 28-staff Quorum – which trades as Quorum Technology – provides IT infrastructure to clients including Drax, Shell and EDF.

Volue operates across energy, power grid, water and infrastructure, developing software, market data and services to accelerate the green transition.

Paul Fothergill, Quorum Technology managing director, said: “Becoming part of Volue provides an incredible opportunity to accelerate our growth.

“We look forward to working closely with our new colleagues.”

Stephan Sieber, Volue chief executive, added: “Quorum has built an outstanding business with deep technical expertise and an exceptional reputation across the UK energy sector, and we look forward to enhancing this further.”

Quorum’s shareholders were advised by Newcastle, Morpeth, Whitley Bay and York-based RG Corporate Finance, guided by partner and technology lead Nick Johnson alongside director Connor McBride, manager Euan Mulholland and manager Ben Kain.

Nick said: “Quorum is an exceptional business and a true North East success story, demonstrating the strength of the region’s technology sector and its growing influence in the UK energy industry.

“This transaction represents a significant inward investment into the UK.”  

Tax advice was provided by RG Tax, led by corporate tax partner Simon Whiteside and tax director Simon Hopwood.

Legal advice was provided by Durham City-based Swinburne Maddison, led by corporate partner Martyn Tennant and managing associate Rebecca Louge.

Martyn said: “Quorum’s growth from NETPark to becoming a market leader is a fantastic success story for the region.  

“Partnering with Volue creates exciting opportunities for further expansion.”

Accounting and tax advice was provided by Andy Thomas, founder and director at Abacus Jack Accountancy, with shareholders supported throughout by long-term business advisor and consultant Roy Whaling.

Volue received legal advice from Hogan Lovells, and financial and tax due diligence support from EY-Parthenon.

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