Private equity firm buys 4,000-strong contractor

Morrison Utility Services has been snapped up by US private equity firm First Reserve for an undisclosed sum.

The 拢600m-turnover, 4,000-strong firm will be taken over in November, subject to European Commission antitrust approval.

Jeff Quake and Neil Hartley, managing directors at First Reserve, said: 鈥淲e believe MUS鈥檚 experienced team has demonstrated an excellent track record of providing best-in-class service with strong alignment to the needs of their customers.

鈥淲e 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.鈥�

Charles Morrison, chief executive at Morrison Utility Services, said: 鈥淭he growth opportunities in our markets are significant on the back of continued long term investment in the UK鈥檚 infrastructure.鈥�

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