United Utilities has sold its Manchester-based facilities management arm to Europa Facility Holdings, a Hertfordshire-based business which has subsequently sold a minority stake to US-based venture-capital firm HIG Capital for £25m in order to fund the deal.
Europa employs 1,200 people at Welwyn Garden City and currently has a turnover of £25m. A spokesman for the firm said that United Utilities Facilities Management (UUFM) arm employed 300, and that its acquisition would take the combined operation’s sales towards a projected £60m. Existing UUFM clients include Northern Gas Networks and Welsh Water.
United Utilities sells Manchester unit
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment