ReSolve, the UK business advisory and investment practice, has revealed it has been appointed as administrators of Hiber Energy Ltd.
Hiber Energy is a SaaS enabled B2B marketplace platform available as an app on Apple and Android. It is designed as a conduit between local merchants and local gas engineers, and streamlines the process of pricing, ordering and purchasing parts.
Hiber Energy aims to allow gas engineers to run their entire business through the platform thanks to its many features, including the ability to send quotes and invoices as well as take payment.
Prior to Covid-19, Hiber achieved 30% month-on-month growth in installations. However, the negative impact of the pandemic has caused the company to enter into administration.
Resolve said it is currently offering the opportunity to purchase the business and/or certain assets.
Mark Supperstone, managing partner at ReSolve, said: “Hiber Energy has been another unfortunate casualty of the pandemic-induced slowdown in economic activity that has affected a great many industries and sectors.
“The company had invested significantly into its platform and seen some excellent growth prior to the pandemic. We believe there is lots of potential left in the platform, which could be widely used by a range of different tradespeople.”