Morrison Utility Services sold for £135m - 07/03/2008 - Contract JournalMorrison Utility Services has been sold for £135m, the buyer being a combination of two private equity firms, Cognetas and Englefield Capital.
MUS has 3,500 employees working throughout the UK. The business is active in the electricity, gas, telecommunications and water sectors.
MUS’s services are centred on the provision, replacement, repair and maintenance of utility infrastructure.
Its management team will stay on board.
Charles Morrison, managing director of MUS, said: “We will continue to retain focus and develop within a sector that has exciting growth prospects.”
The seller was AWG, the utility group previous known as Anglian Water. AWG bought Morrison for £260m in 2000, but subsequently felt that it paid £130m too much because of the figures it was presented with. Legal battles followed, with AWG claiming that it hadn’t acquired what it thought it was getting.Wow...
Morrison Utility Services sold for £135m - 07/03/2008 - Contract Journal
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