Mayfair Equity Partners has agreed to sell OVO, the UK retail energy supplier, to EON. The transaction encompasses the OVO operating company, its retail customer base, and the brand name itself. This sale marks a significant development in the UK energy market as EON expands its presence in the competitive retail space through acquisition.

OVO was launched in 2009 and has grown to become a notable player in the UK's residential energy sector. While Mayfair Equity Partners exits its investment in OVO's retail operations, the firm will remain a cornerstone investor in Energy Transition Holdings, indicating continued involvement in the broader energy transition space. The deal structure preserves OVO's brand identity within EON's portfolio.

Until regulatory approval processes complete, OVO and EON will continue operating as separate companies. This acquisition positions EON to strengthen its market share in the UK residential energy market, absorbing OVO's customer base while maintaining the established brand. The transaction reflects ongoing consolidation in the British energy sector as larger players seek to expand their customer portfolios.