South Staffordshire Water was sold by the Bahrain-based Arcapita Bank yesterday to the independent private investment firm Alinda Capital Partners at an estimated price of £400 millon.
South Staffordshire was purchased by Arcapita in 2004 for £245m. Information about yesterday’s sale price has not been publicly disclosed but industry sources have suggested a figure in the region of £400m. With a turnover in excess of £100m, South Staffs supplies water to nearly 1.25 million customers in the Midlands and employs more than 1,000 people.
During the past year three other water companies have changed hands. Anglian Water's owner AWG, was sold to the Osprey consortium, Thames Water sold to the Australian bank Macquarie, and Southern Water which was bought earlier this month by a consortium of infrastructure investors and pension funds led by JP Morgan Chase.
Alinda has made acquisitions in Europe and the US in gas, utilities, airports, rail ways and water totalling $5.7bn (£2.8bn). Alinda Capital has invested over $150 billion in infrastructure over the last 25 years. The Alinda Infrastructure Fund is an unlisted institutional fund with $3 billion in capital commitments and approximately $10 billion in purchasing power.
Commenting on the deal, Chris Beale, Alinda's managing partner, said: "This transaction will be seamless for South Staffordshire's customers, who will continue to receive the same high quality and service."
Amiblu, a global leader in Glass Reinforced Plastic (GRP) pipe systems for wastewater, stormwater, drinking water, irrigation, hydropower, and industrial applications, has announced the appointment of Martyn Turton as its Sales Director for the UK & Ireland, driving strategic market development in the infrastructure and water sectors, effective immediately.
As a project manager at Metasphere, a Grundfos-owned remote telemetry company at the cutting edge of innovation, Fey McHarg, has witnessed firsthand how the intelligent harnessing of data, specifically through the data-as-a-service model, is fundamentally reshaping and revolutionising the water sector.
Attendees at next month’s National Civils Show, Floodex, National Drainage Show and Waterways Management on 26th and 27th November are set to benefit from an expert speaker line-up and the opportunity to visit a wide range of exhibitors all co-located in one place at Excel, London, one of the UK’s leading international exhibition and convention centres.
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Hear how Scottish Water has completed its £235 million Ayrshire Glasgow Resilience Project - customers across Greater Glasgow, Ayrshire and East Renfrewshire will now benefit from a more secure and resilient water supply.
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Find out more about the remarkable career opportunities on offer at WSP - scroll down to watch the inspirational video.