G4S Utility & Outsourcing Services, a major provider of energy metering and outsourcing services in the UK, today announced that it has entered into an agreement to be acquired by a holding company of First Reserve, a global private equity investment firm with USD $31 billion of aggregate capital raised since inception.
This holding company also owns Morrison Utility Services, a leading provider of utility infrastructure services in the United Kingdom, and Dyer & Butler, a specialist construction contractor that operates in markets that include rail and airports.
With a nationwide footprint, the G4S Utility & Outsourcing Services portfolio principally includes; data collection and meter reading; technical energy metering services (meter installation and first-line maintenance); and data process management services.
The acquisition will also include G4S Locks and Alarms (nationwide, 24/7 emergency and non-emergency locksmith services, installations, monitoring and consumer alarms) and G4S Assessment Services (quality assessment and inspection services).
Following completion of the acquisition, G4S Utility & Outsourcing Services will be rebranded as Morrison Data Services and the other associated businesses will become M Assessment Services, LRP Services and ProtectMyProperty.
Simon Best, Managing Director of Morrison Data Services, commented: “We have a proven track record of delivery for our clients in the markets in which we operate and, with a multi skilled workforce and diverse portfolio of services, we are well positioned to help energy suppliers manage a changing and ever growing smart metering market. We believe that this acquisition will help us to further diversify using our core competencies.
“Our belief is that the additional support of First Reserve and our sister company Morrison Utility Services will offer the complementary strengths, knowledge and expertise to accelerate the growth of our business. I would like to take this opportunity to welcome Jim Arnold, Chief Executive of Morrison Utility Services, to the board of Morrison Data Services.”
Jim Arnold, Chief Executive of sister company Morrison Utility Services, commented: “Competition for metering and outsourcing is strong and G4S Utility Services’ strong market position, combined with our broad client portfolio and infrastructure construction expertise, will offer our clients a number of new value add services. We are excited by the new market opportunities that this acquisition will bring.”
About First Reserve
First Reserve is a leading global private equity and infrastructure investment firm exclusively focused on energy, including utilities. With over 30 years of industry insight, investment expertise and operational excellence, the Firm has cultivated an enduring network of global relationships and raised approximately USD $31 billion of aggregate capital since inception. Putting these to work, First Reserve has completed more than 600 transactions (including platform investments and add-on acquisitions), creating several notable energy companies throughout the Firm’s history. Its portfolio companies operate on six continents, spanning the energy spectrum from upstream oil and gas to midstream and downstream, including resources, equipment and services and infrastructure. For more information, please visit: www.firstreserve.com.
About G4S Utility Services
G4S Utility and Outsourcing Services provides services to all of the major UK energy retailers including data collection services and meter reading, data processing and meter installation services. Based in Newcastle, the business has a turnover of £115m per annum and deploys around 3,000 field staff every day, visiting over 60 million properties per annum. The business dates back to 1996 and also includes the provision of hotel inspection services as well as maintaining an estate of 16,500 consumer alarms under the protectmyproperty.co.uk brand. The business also provides locksmith services.
About Morrison Utility Services
With history dating back to 1884, MUS works with utility asset owners on the maintenance and upgrade of their infrastructure across the UK’s electricity, gas, telecommunications and water sectors. MUS’s vision is to be the leading utility service provider by delivering a cost-effective quality service to its clients and continuously maintaining, renewing and upgrading essential UK utility infrastructure and networks. The company has nearly 4,000 direct employees, with a focus on training and development programs to enhance expertise and dependability. For more information, please visit: https://www.morrisonus.com/
About Dyer & Butler
Founded in 1979, Dyer & Butler is a regional civil engineering and building contractor with a solid financial and technical base. The company operates in both the public and private sectors and has significant framework and partnership contracts with numerous companies including: Heathrow Airport Holdings, Gatwick Airport, Network Rail, London Underground, Hampshire County Council, Southampton City Council, Rhondda Cynon Taf County Borough Council and the Environment Agency. Headquartered in Southampton, the company has over 600 employees and a turnover in excess of £120m. For more information, please visit: www.dyerandbutler.co.uk
Jonathan Keehner / Julie Oakes
Joele Frank, Wilkinson Brimmer Katcher
Tel: +1 (212) 355-4449
Debbie Walker, Group Corporate Affairs Director
Morrison Utility Services:
Paul Gilbert, PR Manager
Tel: +44 (0)1438 847275
Dyer & Butler:
Neil Edwards, Managing Director
Tel: 023 8074 2222