USwitch calls in advisors to prep sale

USwitch.com - the UK-based utilities comparison web site - has confirmed that the business could be up for sale after appointing financial advisors to carry out a strategic review of the business.

Reports before Christmas said that the firm - which helps punters save money on utility, and telecoms bills - had a price tag of around £100m.

Today it's emerged that as well as looking for a possible buyer, the firm is also mulling an IPO.

Said chief exec Andrew Salmon: "We are at a very early stage of working with LongAcre Partners [financial advisors] to review our strategic options for the business, ranging from finding a strategic partner to an IPO - and we are also in the market for acquisitions. The key is timing."

Free for consumers to use, uSwitch.com enables punters to compare different utility services - such as gas, electricity, home phone, broadband providers and personal finance products - to get the best deal and claims the average saving for customers switching home phone is £120.

LongAcre Partners - the firm hired by USwitch.com - recently advised Friends Reunited in its strategic review that led to the sale of the business to ITV for £120m.®