The group hopes to see more growth on the back of the Government’s £15bn Warm Homes Plan
From left: Peter Anditt, contracts manager; Josh Raffo, commercial director; Claire Wright, operations manager, and Robert Browne, managing director.(Image: Thrift Energy Group)
Energy efficiency installer Thrift Energy Group says it has become among the largest employee owned firms in its sector.
The Gateshead-based provider of boiler replacement, wall insulation and solar panels, among other services, has transitioned to become an employee owned trust (EOT). The move sees founder Derek Campbell step down to become non-executive chairman after more than four decades in the industry, with directors Rob Browne and Josh Raffo continuing to lead the business which includes Thrift Energy and Provincial Seals.
Thrift says the decision follows a period of investment including recruiting to grow its headcount to 116, with the majority of employs based at its Gateshead headquarters. Last year the group saw turnover of more than £24m, up from £16.2m, with operating profit having climbed from £1.9m to £4.5m.
The group has taken advantage of the UK Government’s support for renewables installation and is eyeing growth on the back of the £15bn Warm Homes Plan, which aims to cut bills over the next five years through increased use of solar energy and heat pumps. Thrift says an estimated 14.4% of North East homes are in fuel poverty and it has helped thousands of UK homes and businesses unlock more than £96m in Government funding, while reskilling and upskilling the green energy workers.
Rob Browne, managing director, said: “When we looked at the future of Thrift Energy Group, we explored all the options, but what became clear very quickly was that we didn’t want anything to change. We’ve loved building this business alongside our team, and we want to keep doing that – focusing on our customers, culture, values and people. An EOT allows us to do that, with the added benefit that our team now gets to share in our financial success too.”
Josh Raffo, commercial director, added: “We were determined to ensure Thrift remained a Gateshead business, supporting people across the North East and creating jobs in the region, while also building the capacity and capability needed to scale delivery as national retrofit programmes ramp up and play a key role in lifting local people out of fuel poverty.
“As an employee-owned business, one of our key priorities for 2026 is the introduction of The Thrift Energy Group Academy. This will be one of the first initiatives we focus on as we continue to invest in upskilling our team, including the creation of apprenticeship opportunities. By supporting our people to gain further qualifications and providing clear career progression pathways, we’re strengthening both our workforce and the service we deliver to our customers.”
