Announcement marks OMERS Private Equity's entrance into the UK's critical utility/infrastructure repair and maintenance sector, with significant tailwinds from required investment in energy transition and decarbonisation
LONDON, July 11, 2022 (GLOBE NEWSWIRE) -- OMERS Private Equity announced today that it has entered into an agreement with management shareholders and Livingbridge to acquire Network Plus (the "Company"), a leading utility and infrastructure repair and maintenance service provider in the UK. OMERS Private Equity invests on behalf of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada.
As one of the UK's leading utility and infrastructure service providers, Network Plus partners with blue chip organisations to maintain and deliver essential services – including water, electricity, gas and telecoms – to homes, businesses, and industry. The Company is headquartered in Worsley, Greater Manchester with a team of more than 5,000 professionals working from 85 regional offices and depots across the UK.
Jonathan Mussellwhite, Senior Managing Director and OMERS Head of European Private Equity, said: "For the last five years, Dan Holland and Stuart Fraser, along with the Network Plus management team, have built a market-leading business with ...
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