Mayfair Equity Partners has exited its investment in OVO’s retail energy unit, selling the operating company, its residential customer base, and the OVO brand to German utility EON.

The transaction sees the sponsor offload a UK energy supplier that it backed several years ago, though the original investment timing and return were not disclosed.

OVO is a UK energy retailer that supplies gas and electricity to households across the country.

The business has built a large customer book since its founding in 2009, competing alongside incumbents and other independents.

The sale includes the operating company that manages customer billing, supply, and service, along with the OVO brand name and its associated retail customer accounts.

EON, one of Europe’s largest energy groups, already operates a UK retail business under the E.ON Next brand.

The addition of OVO’s customers and brand gives the group a broader residential footprint in the British market.

EON has been active in the UK since acquiring npower’s retail business and merging it with its own operations.

Mayfair Equity, a London-based private equity firm focused on consumer and technology investments, originally partnered with OVO to support its growth in the energy sector.

The exit marks a full divestment of the retail asset.

No financial terms or advisors were named for the deal, which was announced on 12 May.