Clearwater advises the shareholders of OCU Group on its sale to Triton Partners

Referenssi

OCU sold to Triton Partners

Sell-side

Undisclosed

Rooli

Adviser to the shareholders of OCU Group on its sale to Triton Partners

Sektorit

Energiasektori
Teollisuus

Alue

Iso-Britannia

Clearwater has advised the shareholders of leading UK multi-utility services specialist OCU Group Limited (OCU) on its sale to Triton Partners to support its next phase of growth. The terms and conditions of the transaction are not disclosed.

OCU, the holding company of O’Connor Utilities and Instalcom, is a leading UK multi-utility services specialist operating within regulated infrastructure markets, including electricity, rail, water, gas and telecoms. Based in Stockport, Greater Manchester, and with a national presence, the acquisition of the group comes following a period of sustained growth to support the future of the UK economy, creating highly attractive market growth prospects.

Founded in 1994 by brothers Tim and Tom O’Connor, OCU has a workforce of over 3,000 employees and contractors across the UK and delivered revenues of c. €350m (£300m) in the financial year to April 2022. Working directly with network operators nationally, OCU offers a range of specialist technical solutions and capabilities in the fields of utility, civil, mechanical, and electrical engineering, alongside expert competencies in network design and project management.

The new partnership will see a continuation of the exceptional utility service provided by OCU but also see further investment in non-regulated opportunities as the UK economy increasingly focuses on renewable power as part of the country’s energy transition.

Relevant contracts have been exchanged and the transaction is expected to complete in August.

The growth and evolution of the O’Connor Utilities and Instalcom businesses represents over three decades of hard work and commitment to create a successful and industry leading business. It is a bittersweet moment as we say goodbye to many friends amongst our colleagues, customers, and suppliers, without whom the business would not have achieved the success it has. However, we leave behind an exceptional management team that, with the support provided by Triton Partners and leadership of CEO Michael Hughes, will ensure more fantastic times ahead for the business. We wish all ongoing future success.
Tim and Tom O’Connor, founders of OCU

The acquisition by Triton Partners marks the end of an exceptional thirty years of ownership by the O’Connor family. Tim and Tom have been phenomenal stewards of the business and we are thankful for all they have done. As we look ahead, our focus is on ensuring that the business continues to grow and evolve, whilst also maintaining the strong culture and approach to customer service that they have instilled, and which remains our key differentiator. Our partnership with Triton Partners will help to facilitate further growth and allow us to better take advantage of strategic opportunities in our core sectors.
Michael Hughes, Chief Executive Officer, OCU Group

Tim and Tom have built an exceptional business in a sector which will be essential to supporting the country’s transition to a low carbon, digitally enabled economy. With attractive growth prospects in the business’ future, Triton Partners will support OCU to realise the opportunities ahead. We would like to wish OCU CEO Michael Hughes, all his team, and Triton Partners the very best on the next phase of OCU’s journey.
Paul Jones, Partner, Clearwater