The acquisition is expected to support OCU’s 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 Dŵr Cymru Welsh Water. 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’s latest accounts show that in the year to 31st October 2021 it grew turnover from £14m to £31m and made a pre-tax profit of £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’s sixth and largest acquisition since it was itself acquired by private equity firm Triton Partners from brothers Tim and Tom O’Connor last year. Only last month OCU, formerly O’Connor 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: “We 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.
“OCU is focused on growing across water and energy-related sectors to increase its expertise and support societal and environmental goals. We’re 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.”
OCU chief executive Michael Hughes said: “The 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.
“The UK’s 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.
“This latest acquisition will enhance the expertise our clients want and deserve. It’s an exciting time for OCU and I’m looking forward to working with Mike Clancy and the wider Northavon team as we expand our water and wastewater capabilities.”
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