A Bolton-based business has completed a “perfect fit” takeover of an online competitor that had been put out of business by the cost-of-living crisis.

Love Energy Savings, based on Springfield Court, Summerfield Road, says it has bucked a trend that is battering similar firms by taking over Energy Helpline after it fell into administration last April for an undisclosed sum.

The company hopes that this will help bring in a new wave of customers.

Love Energy Savings chief marketing officer Phil Windas said: “This deal is a perfect fit for us and Energy Helpline will take a good position in our portfolio of digital brands.

“Our proprietary technology brilliantly serves our business customers, offering full online price transparency and 24/7/365 self-service switching.

“Having the Energy Helpline brand onboard now means we will be able to serve tens of thousands of additional customers, who already trust the name from its two decades of offering switching services, via an upgrade with our market-leading platform.”

Energy Helpline had been a household name for over 20 years before becoming another victim of the ongoing cost-of-living crisis this year which has already seen the collapse of 31 energy companies.

Before going into administration, it had already withdrawn its cheapest tariffs back in September, following a trend of retailers that struggled to cope with the rising costs.

Taking over the well-known price comparison site marks another staging post for Bolton-based Love Energy Savings, which says it has diversified its product offering to now include water, telecoms and waste for business customers.  

Founded in 2007, the Springfield Road firm now carries out more than 350,000 switches every year which it says saves customers more than £100m in gas and electricity prices, a demand that is becoming more and more acute as the costs continue to soar.

The company hopes that adding Energy Helpline to its portfolio will help add to this.

Mr Windass said: “We have spent years developing industry-leading technology that tailors quotes for our customers in 800 milliseconds and offers full online price transparency, allowing us to be a modernising and transformational force in the business utilities marketplace.”