Quorum Developments Ltd, which trades as Quorum Technology, has been acquired by Volue, marking a significant inward investment into the UK energy technology sector.
Based at NETPark in Sedgefield, County Durham, Quorum provides mission-critical IT infrastructure to the UK energy industry, including systems that support the Balancing Mechanism Market, the real-time marketplace operated by National Grid ESO that ensures electricity supply and demand remain in balance every second of the day.
Founded by Paul Fothergill and two former colleagues, Quorum was created to deliver a comprehensive outsourced technology solution that could be seamlessly integrated into energy facility infrastructure, such as power stations, without operators needing to develop their own systems or rely on multiple suppliers.
For more than a decade, Quorum operated as a smaller player within a highly regulated and risk-sensitive industry. However, as the UK energy landscape has evolved, with the growing need to balance generation from wind, fossil fuels and Battery Energy Storage Systems (BESS), alongside the increasing complexity of forecasting, trading and asset management, the company’s solutions have become essential.
Today, Quorum commands a market share of more than 65% in its sector and counts Drax, EPUK, Shell and EDF among its major clients. The company has grown to a headcount of 28, with further recruitment planned to support its expanding portfolio of projects.
Research indicates that the number of Balancing Mechanism Units (BMUs) in the UK is expected to grow exponentially over the next five years, reinforcing Quorum’s position as a key enabler of the UK’s transition to a more flexible and low-carbon energy system. This trajectory made the business a highly attractive proposition for Volue’s entry into the UK market.
Headquartered in Oslo, Norway, Volue operates across energy, power grid, water and infrastructure, developing software, market data and services to accelerate the green transition. The group, which is owned by Arendals Fossekompani, Advent International and Generation Investment Management, has a strong track record of strategic acquisitions, most recently expanding its European presence with an acquisition in Turkey.
Under Volue’s ownership, Quorum’s senior management team will be retained and will work closely with their new parent company to leverage Volue’s scale, expertise and international reach.
The Quorum shareholders were advised by North East-based RG Corporate Finance (RGCF), led by Partner and RGCF Technology lead Nick Johnson with support from Director Connor McBride, Manager Euan Mulholland, and Manager Ben Kain.
Transactional tax advice was provided by RG Tax, led by Corporate Tax Partner Simon Whiteside and Tax Director Simon Hopwood.
Legal advice to the shareholders was provided by Swinburne Maddison, led by Corporate Partner Martyn Tennant and Managing Associate Rebecca Logue, with further transactional support from Jenny (Commercial Law), Sharney Randhawa (Employment Law), Mary Feather (Commercial Property), Sophie Ayre, Matthew Ray and Adam McWilliams (Corporate).
Accounting and tax advice was provided by Andy Thomas, Founder and Director at Abacus Jack Accountancy, and the shareholders were supported throughout the process by their long-term business advisor and consultant, Roy Whaling.
Volue was advised by Hogan Lovells, which provided legal advice, and EY-Parthenon, which carried out financial and tax due diligence.
Paul Fothergill, Managing Director of Quorum Technology, said: “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.
“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, commented: “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.
“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.”
Nick Johnson, CF Partner and Technology lead at RG Corporate Finance, 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, 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.
“We were introduced to Quorum by Roy Whaling, whose insight and experience were instrumental in bringing this partnership together, and we are delighted to have supported Paul and his team in achieving such a strong outcome.”
He added: “This is also a landmark transaction for RGCF, further strengthening our credentials in the technology and SaaS sectors. It builds on our work advising the shareholders of Turnkey IPS and demonstrates our ability to deliver complex cross-border deals that create real value for clients operating at the forefront of innovation.”
Martyn Tennant, Head of Corporate and Commercial at Swinburne Maddison, said: “We are proud to have supported the Quorum shareholders on this milestone transaction. This deal brings significant inward investment into the UK energy technology sector and highlights the strength of innovation coming out of County Durham.
“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 and reinforces the North East’s role in driving the UK’s transition to a smarter, greener energy system.”
