OMERS Acquires UK Utility & Infrastructure Service Provider Network Plus, Citing Decarbonization Tailwinds
OMERS Private Equity, the private equity investment manager of one of Canada’s largest defined benefit pension plans, announced today the acquisition of Network Plus, one of the UK’s leading utility and infrastructure service providers.
The acquisition marks OMERS’ entry into the UK utility & infrastructure repair and maintenance sector, which according to the firm will see “significant tailwinds from required investment in energy transition and decarbonization.”
Jonathan Mussellwhite, Senior Managing Director and OMERS Head of European Private Equity, said:
“As long-term partners with evergreen capital, OMERS is uniquely placed to support the business going forward, not least the role it has to play assisting UK infrastructure with the significant investment required across energy transition, decarbonisation and sustainability.”
With a team of more than 5,000 professionals operating out of 85 regional offices across the UK, Network Plus partners with blue chip organizations to maintain and deliver essential services, including water, electricity, gas and telecoms, to homes, businesses, and industry.
Dan Holland, Joint-CEO, Network Plus, said:
“OMERS share our ambition and vision for the business; delivering essential utility services and playing a leading role in the decarbonisation of the UK. They are committed to further developing our core operations and enhancing our expertise in adjacent infrastructure markets, creating new opportunities for our employees and customers.”