In 2009, Aptus Utilities were formed when an ex employee approached Fred Story with a business opportunity that needed financial and professional support to start up a utilities provider business in a sector he had been working in and who had spotted a gap in the market for the installation of utility solutions. Due to the nature of their business model, they needed specialist insurance and guarantees, and these were more easily secured by businesses with longevity, secure financial standing and a strong track record.
To achieve this, In 2010, Aptus Utilities Limited was set up as a wholly owned subsidiary of Story Contracting who were able to ensure Aptus could secure critical suppliers for example Lloyds of London Insurance.
Story Contracting also helped Aptus minimise their overheads to make them commercially competitive, and access to central services functions including IT, HR and Finance as well as providing £175,000 seed capital and over a 2 year period, Story supported Aptus whilst they gradually transitioned to a self-sufficient business model operating from Bolton.
In 2012, Aptus Utilities were sold to Aptus Group Limited and Fred Story (Story Contracting’s owner and Chairman) remained Chairman and part owner of the business.
As the company grew, Story reduced the support, and in 2019 Fred and the original 2 directors sold their share in the company to an external investor. The company was thriving and the turnover at that point exceeded £42,000,000 per annum.