O鈥機onnor Utilities set up nearly 30 years ago

Stockport-based utilities contractor O鈥機onnor has been taken over by an investment giant after nearly three decades in family hands.

Private equity firm Triton Partners has acquired OCU Group Limited, the holding company of O鈥機onnor Utilities and Instalcom, for an undisclosed sum.

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The firm was set up in 1994

The deal marks the end of ownership by the O鈥機onnor family. Tim, 62, and younger brother Tom O鈥機onnor, who turns 61 in October, founded the firm in 1994.

The pair said their exit was 鈥渁 bittersweet moment鈥� but added the management team left behind would 鈥渆nsure the best days of the business lay ahead鈥�.

The 3,000-strong OCU Group posted income of 拢300m in the year to April 2022.

It carries out civils, M&E and project management work.

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