The acquisition is expected to support OCU鈥檚 push in the water sector and strengthen its presence in the southwest.
Northavon Group includes Northavon Water Services, Hydrovein and Multivein.
It primarily operates in the water and wastewater industry in the south of England and South Wales, providing mechanical & electrical, civil and process engineering services. Its clients include South West Water, Thames Water, Wessex Water and D诺r Cymru Welsh Water.聽 It also has divisions for highways and groundworks.
Completion of the acquisition is subject to regulatory clearance and is expected to occur in May 2023.
Northavon鈥檚 latest accounts show that in the year to 31st October 2021 it grew turnover from 拢14m to 拢31m and made a pre-tax profit of 拢733,000. Based in Midsomer Norton, near Bath, it was previously owned by brothers Mark and David Matthews, who had acquired it in 2016.
Northavon becomes OCU鈥檚 sixth and largest acquisition since it was itself acquired by private equity firm Triton Partners from brothers Tim and Tom O鈥機onnor last year. Only last month OCU, formerly O鈥機onnor Utilities, acquired London-based Modus Utilities.
Its other acquisitions are the Leeds fibre-optic specialist InICT, utilities firm Opals, Wigan telecom installation service FKS, and Andrews Associates, a power systems design and engineering service based in Surrey.
Northavon managing director Mike Clancy said: 鈥淲e are absolutely committed to providing our clients with the most comprehensive and dynamic capital project and maintenance support available. With less than two years to go until AMP8, we have huge potential to streamline ways of working to create an environment that both meets regulatory requirements and gives the best service for our customers.
鈥淥CU is focused on growing across water and energy-related sectors to increase its expertise and support societal and environmental goals. We鈥檙e excited to now be part of the group that shares our commitment to a greener and cleaner future and look forward to seeing what projects we can deliver together.鈥�
OCU chief executive Michael Hughes said: 鈥淭he water and wastewater sector is changing rapidly and there are several factors we need to consider when operating in this area. As we head towards AMP8 in 2025, we need to innovate and increase collaboration across the industry in order to protect our water and waste-water infrastructure and support our customers achieve their own environmental goals.
鈥淭he UK鈥檚 water services have already made huge strides in the right direction, but we are keen to increase efficiency, improve water quality, and importantly, provide leading service levels for our customers.
鈥淭his latest acquisition will enhance the expertise our clients want and deserve.聽 It鈥檚 an exciting time for OCU and I鈥檓 looking forward to working with Mike Clancy and the wider Northavon team as we expand our water and wastewater capabilities.鈥�
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