London, 08 October 2026: Mayfair Equity Partners (“Mayfair”), a mid-market digital investor, today announces that E.ON has completed on the acquisition of the retail energy business of its portfolio company OVO, following receipt of all necessary regulatory approvals. The sale comprises the OVO operating company, its retail customers, and the OVO brand.
As OVO’s first external equity investor, Mayfair has backed the business since 2015, supporting its development from a technology-led challenger in the UK’s retail energy market through to its establishment as one of the country’s largest suppliers. Over that period, OVO’s customer base rose from 500,000 to more than four million households, during which time the company championed the energy industry’s transition, including by incubating the Kaluza platform.
Now operating independently, Kaluza is an intelligent grid technology platform that serves energy companies across eight markets, within an increasingly electrified and complex grid environment. As a result of the transaction, the Mayfair Funds will become controlling shareholders of Kaluza.
“Supporting OVO’s evolution from a challenger to one of the UK’s largest energy suppliers has been an integral part of Mayfair’s history. We would like to thank the OVO team for their partnership over the past decade and wish them every success in this next chapter with E.ON,” said Daniel Sasaki, Managing Partner at Mayfair Equity Partners. “Kaluza has grown from an idea within OVO into an independent platform serving utilities internationally. Mayfair’s backing of Kaluza reflects our confidence in its technology and leadership, and in the global opportunity to help utilities run critical operations in an increasingly complex energy system.”
About Mayfair Equity Partners
Mayfair Equity Partners is a mid-market investor that partners with exceptional management teams to build digital leaders. Managing £2 billion of assets, Mayfair invests in digital ecosystems where market dynamics and technological advances create opportunities for the next generation of leaders. Mayfair provides management teams with specialist support that strengthens business foundations and accelerates growth, through digital transformation, international expansion, and M&A.
