Warburg Pincus Agrees Deal to Acquire Network Plus as Infrastructure Investment Accelerates

Global investment firm Warburg Pincus has agreed to acquire UK utility and infrastructure services provider Network Plus from OMERS Private Equity and existing shareholders, in a move that reflects growing investor confidence in the country's expanding infrastructure sector.

Subject to regulatory approval, the acquisition will provide fresh backing for Network Plus as it continues to support major investment programmes across the UK's electricity, gas, water, wastewater and wider infrastructure networks.

Founded in 2000 and headquartered in Worsley, Greater Manchester, Network Plus has grown into one of the UK's leading providers of essential infrastructure services, delivering maintenance, operational support and enhancement projects for many of the nation's largest utility companies. The business plays a critical role in helping customers deliver investment programmes designed to improve resilience, increase capacity and support the transition to a lower-carbon economy.

Following completion of the transaction, the company's existing leadership team will remain in place, with the Network Plus brand retained and no changes planned to day-to-day operations or customer delivery.

Kevin Fowlie, Chief Executive Officer of Network Plus, said the business had benefited significantly during its partnership with OMERS and was looking forward to the opportunities ahead.

"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."

Warburg Pincus believes the business is well positioned to capitalise on increasing infrastructure investment across the UK and Europe, particularly as utility providers expand programmes linked to decarbonisation, energy security and network resilience.

Roy Ben-Dor, Managing Director & Partner at 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 at Warburg Pincus, added:

"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."

OMERS said the company had made significant progress during its period of ownership, strengthening both its operational performance and market position.

Michael Block, Head of Private Capital at 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 invested in Europe for more than 40 years and has developed an extensive portfolio of businesses across infrastructure, business services, technology, healthcare and financial services. The acquisition of Network Plus further strengthens the firm's presence in the UK's infrastructure market as investment in critical national assets continues to gather pace.