Spain’s Ferrovial to buy UK‘s utility services company Enterprise for $589 mn
22 Feb 2013
Spanish infrastructure giant Ferrovial S A, yesterday said that it will buy British utility services company Enterprise Plc, for £385 million ($589 million) from private equity firm 3i Group.
Enterprise, formed through the 2000 merger with ARM Services, is a support services company based in Lancashire and is the UK's largest dedicated provider of maintenance and front-line services to the public sector and utility industry.
Enterprise was acquired by a consortium led by 3i in 2007 and was de-listed from the London Stock Exchange.
It has over 13,000 people working from over 150 locations in the UK and offers over 100 different services to more than 15 million people or 25 per cent of Britain's population.
Following two acquisitions in 2007 and 2009, the company's revenue has grown to £1.1 billion. Its key clients include Severn Trent Water, United Utilities, National Grid and UK Power Networks.
Not included in the acquisition is Enterprise' joint venture company with Mouchel called EnterpriseMouchel, which will continue to operate as an independent company.
