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Triton completes acquisition of OCU Group Limited


London / Manchester (England), 4 August 2022 – Triton Fund V advised by Triton (“Triton”) has successfully completed its acquisition of OCU Group Limited (“OCU”), holding company of O’Connor Utilities and Instalcom, a leading UK multi-utility services specialist operating within regulated infrastructure.

Founded in 1994 by Tim and Tom O’Connor, OCU has a workforce of over 2,000 employees and contractors across the UK and delivered revenues of c. £300m over the last financial year. Working directly with national network operators, OCU offers a range of specialist technical solutions and capabilities in utility, civil, mechanical, and electrical engineering, alongside expert competencies in network design and project management.

Triton sees OCU as well positioned in its core markets and with long-term growth potential backed by multiple underlying trends, like the broader energy transition. Services is one of Triton’s core sectors, with the firm having invested in services companies for more than 20 years across Europe. This includes providers of specialty installation services, 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.

About OCU Group

Founded in 1994 by the O’Connor brothers, Tim and Tom, O’Connor Utilities is an innovative service provider in the Utilities Industry, operating on a national scale.

The Company 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 electricity, gas, water, telecoms, rail, and directional drilling.

O’Connor Utilities is a fast-growing organisation that prides itself on being innovative utility engineering experts that always provide an exceptional level of service for our clients and the millions of customers associated with them.

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About Triton

Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial tech, services, consumer, and healthcare sectors. Triton invests in and supports the positive development of medium-sized businesses headquartered in Europe.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvement and growth.

The companies currently in Triton’s portfolio have combined sales of around EUR 18.1 billion and employ around 104,000 employees.

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