OCU Group acquires Northavon
OCU Group further increases reach with acquisition of leading water & wastewater engineering, renewable energy, and infrastructure company
OCU Group Limited (“OCU” or the “Group”) is delighted to confirm the completion of the acquisition of the Northavon Group of companies, which includes Northavon Group Limited, Northavon Holdings Limited, Northavon Water Services Limited, Hydrovein Limited, and Multivein Limited, along with their respective subsidiaries (together, “Northavon”). The acquisition was announced on the 24th of April 2023, but was subject to regulatory clearance, which has now been received.
Northavon provides a broad range of services to its clients across South England and South Wales, which include South West Water, Thames Water, Dŵr Cymru Welsh Water (Welsh Water), local authorities, transport infrastructure clients, and a number of blue chip housing development companies.
Northavon’s work includes mechanical, electrical, instrumentation and civils design, construction and installation of clean and wastewater treatment facilities and sewage pumping stations, together with maintenance services, highways and developer services works.
Established in 2016 by brothers Mark and David Matthews, Northavon has a workforce of over 350 employees and contractors and delivered revenues of c£50m in the financial year to 31st October 2022.
OCU is a Stockport-based energy and utilities specialist, that operates within regulated and non-regulated infrastructure markets, including electricity, power, rail, water, and telecoms. The acquisition marks OCU’s sixth and largest acquisition in the past 12 months.
Mike Clancy, Group Managing Director of Northavon said: “On behalf of everyone at Northavon, we are excited by what the future holds as part of the OCU family. I look forward to merging our specialisms, sharing learnings, and using our joint expertise to solve challenges facing the industry.”
Mark and David Matthews, founders of Northavon added: “The growth and transformation of the Northavon business represents many years of hard work and commitment by a dedicated and hardworking team, and it will be a bittersweet moment as we say goodbye to many friends amongst our colleagues, suppliers, and customers. We wish everyone good luck and future success.”
Michael Hughes, Chief Executive Officer of OCU, said: “Completing this acquisition is a milestone moment for us, and a significant step in our long-term growth strategy to expand our services within the water and wastewater sector. Since beginning initial conversations with Northavon it has been evident that we share a similar vision and understanding, with the acquisition enabling us to scale and help many more clients. To get this deal across the line is a great achievement and testament to our dedicated workforce. We look forward to working with Mike, the wider Northavon team, and their clients.”
The deal with Northavon follows the acquisitions of Modus, a London-based multi-utility specialist, InICT, a Leeds-based fibre-optic specialist, Opals, a regional multi utilities hub, Andrews Associates, a Surrey-based power systems design and engineering service, and FKS, a Wigan-based telecom installation service.
As part of the acquisition arrangements, Northavon will become known as OCU Northavon.
OCU is an innovative service provider in the Utilities Industry, operating on a national scale. The Group delivers a wide range of customer-focused business solutions throughout the UK and Ireland, working with a large blue-chip client base in all utility areas including Power, Energy, Telecoms, Water, Rail and Directional Drilling.
On the 4th of August 2022, OCU was acquired by Triton Partners, one of Europe’s leading investment firms. Triton was founded in 1997, with a belief in engaging with boards, managers, and employees to build better businesses, primarily in Northern Europe. The company focuses on developing medium-sized companies with the potential to create sustainable, long-term value. Triton operates from 12 offices across the world with their current portfolio of companies having combined annual revenues of over €18bn.
Northavon is a mechanical, electrical, and civil engineering contractor that operates in the South of England and South Wales. The group undertakes mechanical, electrical, instrumentation and civils design, construction and installation of clean and wastewater networks, treatment facilities and sewage pumping stations, together with maintenance services and highways and developer services works. This is achieved by utilising an in-house team of highly skilled engineering staff who design, install, manage, and commission each project to leading industry standards and quality.