Gateshead Energy Efficiency Specialist Embraces Employee Ownership Structure
Thrift Energy Group, a prominent Gateshead-based provider of energy efficiency solutions, has announced its transition to an employee owned trust (EOT), positioning itself among the largest employee owned firms within its sector. This strategic move represents a significant shift in the company's governance and future direction.
Leadership Transition and Business Continuity
The transition sees founder Derek Campbell stepping down from day-to-day operations to assume the role of non-executive chairman, following more than four decades of dedicated service within the industry. Operational leadership will continue under directors Rob Browne, who becomes managing director, and Josh Raffo, serving as commercial director. The business encompasses both Thrift Energy and Provincial Seals, maintaining its established market presence.
This structural change follows a period of substantial investment and growth for the group, which has expanded its workforce to 116 employees, with the majority based at its Gateshead headquarters. The company's financial performance has shown remarkable improvement, with turnover climbing to over £24 million last year, up from £16.2 million, while operating profit increased significantly from £1.9 million to £4.5 million.
Capitalising on Government Initiatives and Addressing Fuel Poverty
The group is strategically positioning itself to benefit from the UK Government's £15 billion Warm Homes Plan, a comprehensive initiative designed to reduce household energy bills over the next five years through the expanded adoption of solar energy and heat pump technology. Thrift Energy has been an active participant in government-supported renewable installation programmes, having already assisted thousands of UK homes and businesses in accessing more than £96 million in available funding.
A pressing concern in the region is fuel poverty, with an estimated 14.4% of North East households currently affected. The company views its work as integral to addressing this challenge, not only through direct service provision but also by reskilling and upskilling workers within the green energy sector.
Leadership Perspectives on the Employee Owned Future
Rob Browne, managing director, commented on the decision: "When we evaluated the future trajectory of Thrift Energy Group, we meticulously examined all available options. It became abundantly clear that our paramount objective was to preserve the essence of what we have built. We have cherished developing this business alongside our exceptional team, and we are committed to sustaining that focus—on our customers, our culture, our core values, and our people. The employee owned trust model enables us to achieve precisely that, with the additional advantage of allowing our team to share directly in our financial achievements."
Josh Raffo, commercial director, added: "We were resolute in our determination to ensure Thrift remained firmly rooted as a Gateshead business, continuing to support communities across the North East and generating employment within the region. Concurrently, we are building the necessary capacity and expertise to scale our delivery capabilities as national retrofit programmes intensify. We believe our model will play a crucial role in helping to lift local residents out of fuel poverty."
Introducing The Thrift Energy Group Academy
As a cornerstone of its new employee-owned status, one of the group's key priorities for 2026 is the establishment of The Thrift Energy Group Academy. This initiative will be among the first major projects undertaken under the new ownership structure.
The academy is designed to:
- Substantially invest in upskilling the existing workforce
- Create new apprenticeship opportunities within the green energy sector
- Support employees in obtaining further qualifications and certifications
- Develop clear and structured career progression pathways for all staff members
This focus on internal development is intended to strengthen both the workforce's capabilities and the overall quality of service delivered to customers, ensuring the company's long-term sustainability and regional impact.
