Management buyout at Chameleon Technology provides boost for net zero economy

Chameleon Technology, the Yorkshire-based international smart energy technology company, is set to enjoy rapid growth following the completion of a management buyout (MBO).
Mike WoodhallMike Woodhall
Mike Woodhall

Led by co-founder and managing director, Mike Woodhall, and supported by its existing management team, the MBO has been backed by London-based Shard Credit Partners.

The MBO will help accelerate the management team’s plans to deliver consumer-focused technology services.

Hide Ad
Hide Ad

It will focus primarily on data and cloud services that support smart home, low carbon and home energy management technologies.

With its head office in Harrogate, Chameleon Technology, which has a team of 47, is one of the biggest providers of smart in-home displays in the UK, having achieved sales of more than £30m in 2019.

Since it was founded in 2010 by Mike Woodhall and Gary Martin, Chameleon Technology has delivered more than six million smart in-home displays to UK homes via energy providers, including E.ON, Bulb, EDF, Npower, Scottish Power and OVO.

Mike Woodhall, CEO of Chameleon Technology, said: “I am delighted to have completed this management buyout of Chameleon Technology. With the backdrop of supportive government policy and the energy system transformation, this is the perfect time to put control of the company more in the hands of the management team.

“The exiting shareholders can be proud of what we’ve achieved together. I am excited to continue to lead the Chameleon Technology team on our journey.”