Tue, 25 Apr 2023 | BUSINESS SALE
Private equity-backed OCU Group has continued its acquisitive growth with a deal to acquire The Northavon Group. The Northavon Group comprises Northavon Group Ltd, Northavon Water Services Ltd, Northavon Holdings Ltd, Hydrovein Ltd and Multivein Ltd, along with their respective subsidiaries.
Headquartered in Somerset, Northavon primarily operates across the water sector in the South of England and South Wales. Its services include electrical, instrumentation and civils design, construction and installation of treatment facilities for clean and wastewater and sewage pumping stations. Other divisions include highways and groundworks. The group’s clients include Thames Water, Wessex Water, South West Water and Dŵr Cymru Welsh Water.
The acquisition forms part of OCU’s plan to grow across the UK’s water and wastewater industry as it targets opportunities in the water and energy sectors. The deal also strengthens the Stockport-based group's presence in the South West.
The deal is OCU’s sixth acquisition since it was acquired by private equity firm Triton Partners in July 2022, following deals for Modus, InICT, Opals, Andrews Associates and FKS, and is its largest so far. Following the completion of the deal, which is subject to regulatory clearance, Northavon will be renamed OCU Northavon.
OCU Chief Executive Michael Hughes said: "The water and wastewater sector is changing rapidly, and there are several factors we need to consider when operating in this area. As we head towards AMP8 in 2025, we need to innovate and increase collaboration across the industry in order to protect our water and waste-water infrastructure and support our customers achieve their own environmental goals.”
"The UK's water services have already made huge strides in the right direction, but we are keen to increase efficiency, improve water quality, and importantly, provide leading service levels for our customers.”
"This latest acquisition will enhance the expertise our clients want and deserve. It's an exciting time for OCU and I'm looking forward to working with Mike Clancy and the wider Northavon team as we expand our water and wastewater capabilities."
Northavon Group managing director Mike Clancy added: "We are absolutely committed to providing our clients with the most comprehensive and dynamic capital project and maintenance support available. With less than two years to go until AMP8, we have huge potential to streamline ways of working to create an environment that both meets regulatory requirements and gives the best service for our customers.”
"OCU is focused on growing across water and energy-related sectors to increase its expertise and support societal and environmental goals. We're excited to now be part of the Group that shares our commitment to a greener and cleaner future and look forward to seeing what projects we can deliver together."
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