Triton Partners completes purchase of OCU Group
OCU Group Limited (“OCU”), holding company of O’Connor Utilities Limited and Instalcom Limited, is delighted to announce that the acquisition by Triton Partners has been successfully completed today.
OCU 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.
Triton sees OCU as well positioned in its core markets and with long-term potential backed by multiple underlying trends, including the broader energy transition and increasing digitalisation. Services is one of Triton’s core sectors, with the firm having invested in services companies for more than 20 years. This includes providers of specialty installation, railway, energy, communications technology and technical building services.
Triton intends to support OCU’s strategy to further grow its core businesses, and to pursue investments in non-regulated opportunities, as the UK economy increasingly focuses on renewable power as part of the country’s energy transition.
OCU and Triton Partners said that the new partnership will see a continuation of the exceptional utility service provided by OCU but also that the investment made is about the long-standing growth of OCU; creating huge opportunities where individuals can play a bigger role in a successful and evolving business.
Michael Hughes, Chief Executive Officer of OCU Group, further commented:
“The completion of the acquisition of OCU by Triton Partners brings to an end some 30 years of ownership by Tim and Tom O’Connor. I am sure I speak for the many friends and colleagues they leave behind when I say how grateful we are for their incredible support and guidance over the years. We wish them every future health and happiness.
We are very fortunate to have Triton Partners as our new owners. Throughout discussions, Triton have been highly supportive of management and our vision for the future of OCU – a future where I am sure they will add tremendous value through their industry experience, commercial discipline and entrepreneurial approach. Our culture and excellence in what we do are the core pillars of OCU and with Triton as our partners for the next stage of our journey we now have greater capacity to move quickly to support our growth ambitions”