OCU Group swoops for water services business
Thu, 26 Sep 2024 | BUSINESS SALE
Purestream Industries, a water services business based in the South East, has been acquired by private equity-backed energy transition and utilities infrastructure services company OCU Group.
Purestream Industries is a specialist in water design and engineering, environmental process technology and equipment. Its services include water recycling, resource recovery and the application of renewable energy via hydro-turbine technologies and biogas utilisation.
The deal will add the company’s expertise in water design to OCU Group’s existing capabilities in energy and wider utilities design. The group has been owned by Triton Partners since 2022.
Commenting on the acquisition, OCU Group Chief Executive Michael Hughes said it marked “another key milestone in the enhancement of OCU’s water market capability” following the group’s recent investment in the UK’s largest pipe pusher and the appointment of Hugh McCrossan as Managing Director of its Water division.
Hughes continued: "Purestream’s water design capabilities perfectly align with our goal to lead the way in engineering excellence in both energy and utilities."
"The addition of Purestream also supports OCU’s ambition to attract, train, and develop the UK’s best emerging engineers, particularly in the water sector, which is set to receive approximately £80bn in investment, as outlined in Ofwat's interim determination earlier this year."
Purestream Industries Director Nicholas Wise said: "The strength and depth of opportunities within OCU, combined with their commitment to developing people and driving industry standards, were key attractions for us.”
“We look forward to the shared learning and value creation that will arise from integrating our water design and wider services with OCU’s well-established energy and utilities capabilities."
Fellow Purestream Director Harry Mouquet added that working within the wider OCU Group would accelerate the company’s “ability to innovate and enhance the services we provide to our clients".
Read about the factors driving M&A activity in the UK's environmental and sustainability services sectors
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