Morrison Utility Services owners acquire G4S Utility Services
Article Date: 29th December 2016
G4S Utility & Outsourcing Services, a major provider of energy metering and outsourcing services in the UK, has today announced that it has entered into an agreement to be acquired by a holding company of First Reserve, a global private equity investment firm with USD $31 billion of aggregate capital raised since inception.
The holding company also owns Morrison Utility Services, a leading provider of utility infrastructure services in the United Kingdom, and Dyer & Butler, a specialist construction contractor that operates in markets that include rail and airports.
G4S Utility and Outsourcing Services provides services to all of the major UK energy retailers including data collection services and meter reading, data processing and meter installation services. Based in Newcastle, the business has a turnover of £115m per annum and deploys around 3,000 field staff every day, visiting over 60 million properties per annum.
The acquisition will also include G4S Locks and Alarms (nationwide, 24/7 emergency and non-emergency locksmith services, installations, monitoring and consumer alarms) and G4S Assessment Services (quality assessment and inspection services).
Following completion of the acquisition, G4S Utility & Outsourcing Services will be rebranded as Morrison Data Services and the other associated businesses will become M Assessment Services, LRP Services and ProtectMyProperty.
Simon Best, Managing Director of Morrison Data Services, commented:
“We have a proven track record of delivery for our clients in the markets in which we operate and, with a multi skilled workforce and diverse portfolio of services, we are well positioned to help energy suppliers manage a changing and ever growing smart metering market. We believe that this acquisition will help us to further diversify using our core competencies.
“Our belief is that the additional support of First Reserve and our sister company Morrison Utility Services will offer the complementary strengths, knowledge and expertise to accelerate the growth of our business. I would like to take this opportunity to welcome Jim Arnold, Chief Executive of Morrison Utility Services, to the board of Morrison Data Services.”
MUS works with utility asset owners on the maintenance and upgrade of their infrastructure across the UK’s electricity, gas, telecommunications and water sectors. MUS’s vision is to be the leading utility service provider by delivering a cost-effective quality service to its clients and continuously maintaining, renewing and upgrading essential UK utility infrastructure and networks.
Jim Arnold, Chief Executive of sister company Morrison Utility Services, commented:
“Competition for metering and outsourcing is strong and G4S Utility Services’ strong market position, combined with our broad client portfolio and infrastructure construction expertise, will offer our clients a number of new value add services. We are excited by the new market opportunities that this acquisition will bring
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