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