The Phoenix Works joins the Liberty Global familyNovember 2020
The Phoenix Works are excited to announce we are now a part of the Liberty Global family, one of the world’s leading video, broadband and communication companies, owner of Virgin Media and a long term investor in Formula E.
Following our previous parent company Retig Ltd entering administration in September, our co-founders and Directors Thomas Newby and Matthew Morgan began an accelerated process to find a new strategic investor. As a result of this process Liberty Global became the new owner of The Phoenix Works and will maintain the company as a separate legal entity, trading under the existing brand.
Thomas Newby and Matthew Morgan will remain Directors of TPW with Jonathan Pearson, Liberty Global’s MD, Capital Allocation & Business Control and Jason Simpson, Group Head of Energy joining the Board of Directors.
Jason Simpson, Group Head of Energy for Liberty Global, mentions ‘We are delighted to be able to acquire The Phoenix Works supporting the company’s ambitious plans in the smart energy market. This fits well with our existing involvement in the EV charging space and our own internal requirements for onsite renewables and fleet electrification to support our sustainability agenda.’
With a new parent company in place, TPW can now push ahead with our structured growth plan which looks set to accelerate, following the announcement that the UK has brought forward the ban of new petrol and diesel cars sales to 2030.
Thomas Newby, Managing Director of The Phoenix Works said: “Becoming part of the Liberty Global family is a great opportunity for us, and an exciting moment for The Phoenix Works. Liberty Global shares our deep-rooted entrepreneurial, start-up energy, and they are hugely supportive of our ambitious growth plans over the coming years.”
Matthew Morgan, Operations Director of The Phoenix Works said: “2020 has seen testing times but we are now very happy to be truly back to business-as-usual. Having Liberty Global as a parent company will enable our continued growth and ensure our industry leading service levels are maintained.”