The 50/50 joint venture between AWB and NWGB gained unconditional clearance by the Competition and Markets Authority (CMA) today and the parties expect to complete the merger by the end of August.

The new company, to be called Wave, will report a turnover in excess of £500 million and an estimated 19% market share across UK, serving approximately 300,000 business customers.

With strong experience of meeting customer needs across the UK, including a successful track-record in the Scottish market, Wave will offer a national service. Both companies have solid track records in the retail business market and complementary strengths; AWB will bring their experience in water efficiency and NWGB have considerable knowledge in industrial waste management.

 The aim is for Wave to be able to use these synergies to the benefit of industrial, commercial and public sector customers across England and Scotland. Wave will also appeal to small and medium sized business owners looking for a trusted and experienced retailer to meet their needs.

The merger followed the April 2017 deregulation of the water market in England for business customers.

Lucy Darch, MD of NWGB, who will become the new CEO of Wave commented:

“AWB and NWGB are better together. Wave will be able to offer customers an unrivalled breadth of ability and knowledge to help them achieve greater efficiency in utility management.”

Lee Shipsey, AWB director of sales and marketing, who will be appointed as deputy CEO of Wave added:

“By joining forces we will be well placed to deliver great services and products that will give businesses everything they need to understand and manage their water and energy consumption better.”