Private equity investor Triton has sold energy infrastructure contractor OCU to independent investor TDR Capital, following a period of rapid expansion in the UK and overseas.
Triton acquired OCU in 2022 and said it worked with the company’s management to develop it from a regional UK utilities services provider into an international energy transformation and critical infrastructure platform.
International growth
OCU has expanded its capabilities and geographical reach during Triton’s ownership, including entering Australia and New Zealand. It has also developed an integrated service offering covering design, delivery, commissioning, repair and maintenance.
The business has built in-house expertise in high-voltage electrical engineering, horizontal directional drilling, electrical design and specialist civil engineering.
OCU now employs more than 2,500 people and has a total workforce of around 5,500 across the UK, Australia, New Zealand and India.
According to the company, revenue reached £1.2bn in the financial year to 30 April 2026, up from £295m in the year to April 2022. Its order book has grown to more than £4bn.
Management backing
Michael Hughes, chief executive of OCU Group, said Triton’s support had been “instrumental” in building the enlarged business.
“OCU is a very different business today from the one Triton invested in four years ago, and their support has been instrumental in helping us build the platform we have today,” he said.
Hughes added that the company’s focus would be on delivering for clients, investing in its people and capabilities, and pursuing further growth opportunities with TDR Capital.