LONDON, June 26 — Warburg Pincus, the pioneer of private equity global growth investing, today announced that it has entered into an agreement to acquire Network Plus, one of the UK’s leading utility and infrastructure service providers, from OMERS Private Equity and shareholders. Founded in 2000 and headquartered in Worsley, Greater Manchester, Network Plus delivers essential maintenance, enhancement and operational services across the water, wastewater, gas, power, and broader infrastructure sectors.
Network Plus is a trusted partner in delivering and maintaining the UK’s core infrastructure, enabling communities and economies to keep moving. As the UK continues to prioritise infrastructure investment, Network Plus works in close partnership with the country’s leading utility providers to meet increasingly critical investment and performance goals – bringing the expertise, scale and customer focus needed to deliver complex programmes reliably. Warburg Pincus is committed to supporting Network Plus’ growth and delivery for its clients, strengthening its role in maintaining and improving the UK’s critical infrastructure.
The transaction remains subject to regulatory approval. It is intended that, following completion, Network Plus’ leadership team and branding will remain in place, with no change to the Network Plus’ day-to-day delivery for clients.
Kevin Fowlie, Chief Executive Officer, Network Plus, said: “Our partnership with OMERS has been instrumental in Network Plus’ growth, strengthening our operations and deepening our client relationships to build real momentum across the business. As that chapter reaches its successful conclusion, we are excited for the next stage of our journey. Warburg Pincus shares our vision and ambition for the business; delivering essential services to our clients and their customers at a time where investment in UK infrastructure has never been so important. They are committed to enhancing our service offering and capabilities, which will in turn ensure that we deliver greater value and levels of service to our customers, whilst providing our employees the opportunity to grow.”
Roy Ben-Dor, Managing Director & Partner, Warburg Pincus, said: “We recognise the exceptional strength of the business that the Network Plus team has built, and we share their ambition for what comes next. Warburg Pincus is committed to investing in Network Plus’ go-forward growth and we couldn’t be more excited to be part of the next chapter.”
James O’Gara, Managing Director & Partner, Warburg Pincus, said: “Network Plus is a leading service provider to UK infrastructure with an exceptional customer base and management team. The combination of our energy transition and infrastructure services expertise, UK market knowledge and broader European franchise gives us a unique ability to support businesses like this, and Network Plus will be a cornerstone of the services portfolio we are building in Europe.”
Michael Block, Head of Private Capital, OMERS, said: “Network Plus plays an important role in delivering services that communities depend on. Since OMERS investment, the business has grown and strengthened under Kevin Fowlie’s leadership, while continuing to build on its track record of safe, reliable delivery. The company is well positioned for its next chapter, continuing to support customers and communities.”
Warburg Pincus has been investing in Europe for more than 40 years, building an extensive portfolio of market-leading businesses across the UK and the continent. The firm’s European portfolio spans business services, financial services, technology, industrials and healthcare, and includes a number of significant UK businesses where Warburg Pincus has partnered with management teams to support long-term growth. With a dedicated European team based in London and a global network of sector specialists – including a dedicated energy transition practice – Warburg Pincus brings deep operational expertise and local market knowledge to its investments, and the investment in Network Plus is another example of the firm’s unique ability to leverage multiple areas of sector expertise across the firm. The investment in Network Plus reflects the firm’s continued commitment to the UK market and its strategy of building leading European business services and energy transition franchises.