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Triton’s €5.2bn Fund V acquires OCU

European private equity house Triton’s €5.2 billion Fund V is to acquire OCU Group, the holding company of O’Connor Utilities and Instalcom, a UK multi-utility services specialist operating within regulated infrastructure.

European private equity house Triton’s €5.2 billion Fund V is to acquire OCU Group, the holding company of O’Connor Utilities and Instalcom, a UK multi-utility services specialist operating within regulated infrastructure.

The terms and conditions of the transaction have not been disclosed.

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£300 million 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; the firm has invested in services companies for more than 20 years across Europe, including providers of specialty installation services, railway, energy, communications technology, and technical building services.

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