Warburg Pincus agreed on 26 June to acquire Network Plus, a UK provider of utility and infrastructure services, from OMERS Private Equity and other shareholders.
Why Warburg Pincus is buying Network Plus
Warburg said the deal expands its European infrastructure services portfolio and positions it to benefit from long-term investment in UK critical infrastructure; partner James O'Gara called Network Plus a cornerstone of the services portfolio it is building in Europe.
“Network Plus will be a cornerstone of the services portfolio we are building in Europe.”
Deal terms and financing
Financial terms were not disclosed. Chief executive Kevin Fowlie and the leadership team will stay, and the brand will be retained.
Regulatory approvals and timing
The transaction is subject to regulatory approval.
Market context
Network Plus works on water, wastewater, energy and transport networks from more than 95 regional depots and satellite offices. OMERS said the company had strengthened significantly during its ownership.
