County Durham Energy IT Firm Quorum Technology Acquired by Norwegian Specialist Volue
In a significant international business development, County Durham-based IT infrastructure firm Quorum Technology has been acquired by Norwegian energy transition specialist Volue. The undisclosed deal is expected to lead to further recruitment and accelerate growth within the UK's evolving energy sector.
Strategic Acquisition in Energy Technology
Quorum Technology, based at NETPark in County Durham, specialises in developing systems for electricity companies. The firm has been acquired by Oslo-based Volue, which offers a comprehensive range of products used throughout the energy production, trading, distribution and consumption chain. This strategic acquisition represents a notable inward investment into the UK's technology and energy sectors.
The senior management team at Quorum Technology will remain in post, ensuring continuity and leadership during this transitional period. This retention strategy underscores Volue's commitment to maintaining the expertise and operational knowledge that has driven Quorum's success in the competitive energy technology market.
Quorum's Evolution and Market Position
Founded by Paul Fothergill and two former colleagues, Quorum Technology describes its mission as supporting the critical processes for companies "in the important business of keeping the lights on." The firm's technology integrates directly into energy infrastructure, including power stations and renewable energy facilities.
Originally working within fossil fuel sectors, the 28-strong business has successfully transitioned to operate primarily in the renewables market. This evolution has been driven by changing energy landscapes, including the expansion of wind energy and battery storage systems, alongside increasing demand for sophisticated forecasting, trading and asset management tools.
The company enjoys an impressive market share exceeding 65%, serving high-profile customers including Drax, Shell and EDF. Volue's interest in Quorum was reportedly sparked by the UK's growing emphasis on balancing energy systems with flexible, low-carbon solutions.
Leadership Perspectives on the Acquisition
Paul Fothergill, managing director of Quorum Technology, commented on the transaction: "This transaction marks a major milestone in Quorum's growth journey and is a testament to the dedication and expertise of our team. Over the years, we've built a business that plays a critical role in supporting the UK's energy infrastructure, helping operators manage increasingly complex systems with resilience and precision."
He added: "Becoming part of Volue provides an incredible opportunity to accelerate our growth at a pivotal time in the evolution of the UK's energy industry. We look forward to working closely with our new colleagues and would like to thank Roy Whaling and our advisory team for their invaluable support and guidance throughout this process."
Stephan Sieber, CEO of Volue, expressed enthusiasm about the acquisition: "We are proud to welcome Quorum to Volue. Together, we will empower UK energy companies with world-class digital solutions, strengthen the resilience of critical infrastructure, and support a secure, sustainable energy system for the future."
Sieber further noted: "The UK is at the forefront of the energy transition, with increasing system complexity, real-time balancing requirements and ambitious decarbonisation targets. 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."
Advisory Team and Regional Significance
Quorum's shareholders received advisory support from North East-based RG Corporate Finance (RGCF), led by partner and RGCF technology lead Nick Johnson. The advisory team included director Connor McBride, manager Euan Mulholland, and manager Ben Kain.
Nick Johnson remarked on the transaction's significance: "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, recognising the talent, innovation and capability that make companies like Quorum highly attractive to international acquirers such as Volue, who can add scale, reach and complementary expertise."
Transactional tax advice was provided by RG Tax, led by corporate tax partner Simon Whiteside and tax director Simon Hopwood. Legal advisory services for Quorum were handled by Swinburne Maddison LLP, with corporate partner Martyn Tennant and managing associate Rebecca Logue leading the engagement.
Additional accounting and tax advice came from Andy Thomas, founder and director at Abacus Jack Accountancy. Volue received legal advice from Hogan Lovells, while financial and tax due diligence was conducted by EY-Parthenon, completing the comprehensive advisory framework supporting this international acquisition.
