Wessex Water Ltd has acquired 100% ownership of Albion Water after initially forming the joint venture in 2016.
After a five year joint venture, Wessex Water has exercised its option of buying the 49% stake in Albion Water, which is owned by Water Level.
Albion Water was formed by Dr Jerry Bryan and was the first entrant to drive real competition in the water sector for the provision of water and sewerage services.
The company, which has sites in Gloucestershire, Hampshire, Essex and Kent, serves around 4,000 customers, operating as a NAV (New Appointment and Variation) to provide services in areas that were previously provided by the incumbent monopoly provider. It also has numerous commercial water management partnerships.
Albion Water has also partnered with other Wessex Water Limited environmentally focused companies, GENeco and EnTrade, on projects and nature-based solutions, which it remains committed to delivering and growing the future pipeline of the business.
Charley Maher, Managing Director of the retail and commercial arm of Wessex Water, said:
“The Albion Water team have taken on the challenge of providing developers with more sustainable solutions for new developments, including grey water recycling and nature-based flood alleviation measures.
“After a five year joint venture, now is the right time for Wessex Water to take greater ownership as we develop the business further and explore holistic green energy and nature-based solutions.”
Dr Jerry Bryan, chairman of Albion Water, commented:
“I’m immensely proud to have played a leading part in the Albion story since its beginnings as the first competitive entrant to the water market in 1999 and in building its current reputation as the most innovative player in the market.
“I wish Wessex Water well as it writes the next chapter in the Albion story. For my part, I will continue to strive for a more innovative and sustainable water industry. We have a long way to go.”
Albion Water will continue to operate under its existing name and maintain high levels of customer service and operational performance.
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