Warburg Pincus announced that it has entered into an agreement to acquire Network Plus from OMERS Private Equity and other shareholders.
Network Plus is a UK-based utility and infrastructure services provider founded in 2000 and headquartered in Worsley, Greater Manchester. Financial terms of the transaction were not disclosed.
The transaction is intended to accelerate Network Plus’ growth as a provider of maintenance, enhancement, and operational services across the water, wastewater, gas, power, and broader infrastructure sectors.
Network Plus works with major UK utility providers to support critical infrastructure investment and performance goals. The company delivers essential services that help maintain and improve utility networks serving communities across the country.
Warburg Pincus said it plans to support Network Plus’ continued growth and service delivery, while strengthening the company’s role in the UK’s infrastructure ecosystem.
The transaction remains subject to regulatory approval. Following completion, Network Plus’ leadership team and branding are expected to remain in place, with no change to day-to-day service delivery for clients.
Network Plus operates from more than 95 regional depot bases and satellite offices across the UK. Its group companies include Go Traffic Management, Littlewood Group, and Claret Civil Engineering.
The investment reflects Warburg Pincus’ continued focus on the UK market and its strategy of building European business services and energy transition platforms.
Warburg Pincus has invested in Europe for more than 40 years and has a portfolio spanning business services, financial services, technology, industrials, and healthcare. The firm has more than $100 billion in assets under management and more than 215 companies in its active portfolio.
OMERS said Network Plus has strengthened under its ownership and is well positioned for its next chapter.
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“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.”
Kevin Fowlie, Chief Executive Officer of Network Plus
“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.”
Roy Ben-Dor, Managing Director and Partner at Warburg Pincus
“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.”
James O’Gara, Managing Director and Partner at Warburg Pincus
“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.”
Michael Block, Head of Private Capital at OMERS