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22/07/2016
First Reserve To Purchase Morrison Utility Services
Infrastructure investment firm First Reserve has agreed to purchase Morrison Utility Services (MUS).
The company will acquire MUS from Bregal Capital and Motion Equity Partners by November 2016, subject to European Commission antitrust approval.
Bregal Capital and Motion Equity Partners purchased the contractor from Anglian Water Group in March 2008, investing alongside the company management.
Charles Morrison, Chief Executive Officer at MUS, said: "MUS has provided high quality services for over 27 years, whilst developing successful and long term relationships with our clients.
"The growth opportunities in our markets are significant on the back of continued long term investment in the UK's infrastructure. We thank Bregal Capital and Motion Equity Partners for the great support they have provided to MUS since 2008 and very much look forward to forging a strong partnership with First Reserve during our next phase of growth."
Jeff Quake and Neil Hartley, Managing Directors at First Reserve, added: "We believe MUS's experienced team has demonstrated an excellent track record of providing best-in-class service with strong alignment to the needs of their customers. We are pleased to continue our model of partnering with what we believe are industry-leading management teams worldwide, and we look forward to supporting the company through a new phase of growth."
(LM/CD)
The company will acquire MUS from Bregal Capital and Motion Equity Partners by November 2016, subject to European Commission antitrust approval.
Bregal Capital and Motion Equity Partners purchased the contractor from Anglian Water Group in March 2008, investing alongside the company management.
Charles Morrison, Chief Executive Officer at MUS, said: "MUS has provided high quality services for over 27 years, whilst developing successful and long term relationships with our clients.
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"The growth opportunities in our markets are significant on the back of continued long term investment in the UK's infrastructure. We thank Bregal Capital and Motion Equity Partners for the great support they have provided to MUS since 2008 and very much look forward to forging a strong partnership with First Reserve during our next phase of growth."
Jeff Quake and Neil Hartley, Managing Directors at First Reserve, added: "We believe MUS's experienced team has demonstrated an excellent track record of providing best-in-class service with strong alignment to the needs of their customers. We are pleased to continue our model of partnering with what we believe are industry-leading management teams worldwide, and we look forward to supporting the company through a new phase of growth."
(LM/CD)
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