Thu, 07 Mar 2024 | BUSINESS SALE
OCU Group, an energy transition and utilities contractor backed by private equity firm Triton Partners, has acquired a Stockport-headquartered specialist overhead lines contractor. The group has acquired Nettworx Ltd and Power Grid Plant Ltd, which together form Nettworx.
Nettworx has operational depots in Southern England, North East Scotland and Northern Ireland. The acquisition is forecast to bolster OCU Group’s engineering, procurement and construction (EPC) capabilities, especially in Nettworx’s core overhead powerlines market.
Nettworx provides a range of services that help overhead line operators to plan, build, commission and maintain low, high and extra-high voltage transmission and distribution systems. OCU Group Chief Executive Michael Hughes called the deal “a key initiative in OCU's strategy to be a leader in the UK regulated power and energy transition markets.”
Hughes continued: "Nettworx's expertise in power lines complements our existing services, enabling us to offer a more comprehensive suite of solutions to our clients. Our combined capabilities will step up the innovation and service delivery we offer in the UK's energy transition activity."
OCU Energy Chief Operating Officer Vince Bowler added: "The energy market has a growing appetite for talent and the demand for skilled and experienced professionals in this sector has never been higher. OCU Group is focused on the development of this key resource and has heavily invested in a number of strategic and key initiatives to attract and develop a diverse pipeline of talent.”
"Incorporating Nettworx elevates our capability, opening advanced training paths for our early-career talent, fast-tracking their evolution into leading energy transition engineers."
Nettworx Managing Director Declan Hamill said that the takeover meant that the company would be better positioned "to address the complex challenges and opportunities in the energy sector, especially in the critical area of Overhead Powerlines" as a result of the combined expertise and resources of the two businesses.
OCU Group serves clients across the energy, water, telecoms and transport sectors, undertaking a range of client-focused contracting throughout the UK and Ireland. The company was acquired by Triton Partners in August 2022, completing seven acquisitions within the first year of ownership.
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