OCU Group is set to be acquired by London-based private equity firm TDR Capital after its current owner, Triton Partners, agreed the sale.
The transaction, announced on 5 October 2026, remains subject to regulatory approvals and other closing conditions. Financial terms have not been disclosed.
Growth in critical infrastructure
OCU, ranked as the UK’s 28th largest contractor, reported turnover of more than £1bn in its latest accounts. The group has expanded through acquisitions and entered Australasia for the first time last year.
Acquisitions including Northern Ireland-based McCormack Drilling and Scottish civil engineering contractor RJ McLeod helped drive growth. In the year to 30 April 2026, acquisitions accounted for around half of OCU Group’s £320m increase in turnover, according to the company.
TDR Capital managing partner Gary Lindsay said: “We believe OCU can capture a globally relevant position in critical infrastructure.”
He added: “With the vital challenge of the ongoing modernisation requirements across infrastructure globally and the changing dynamics within the power industry, we see a compelling need to take this platform to the next level.”
Lindsay said TDR had the “expertise in building global infrastructure businesses [and] the track record of scaling high-potential platforms”. The firm owns businesses including PizzaExpress, David Lloyd and power generation company Aggreko.
Next phase of expansion
OCU chief executive Michael Hughes said Triton’s support had been “instrumental” in the group’s growth since its acquisition in 2022.
Hughes said the business had grown from a £250m-turnover company when he joined in 2021 to a contractor in the top third of the CN100 ranking.
“Our focus now is on continuing to deliver for our clients, invest in our people and capabilities, and capture the significant opportunities ahead,” he said.
“We look forward to working with TDR – a firm with a strong track record in building leading global businesses – on the next phase of OCU’s growth.”
Hughes previously worked with TDR during his time as chief financial officer of EG Group. In 2020, EG and TDR acquired a majority stake in Asda from Walmart for £6.8bn.
In an interview earlier this year, Hughes said OCU was considering further investment opportunities, including organic growth and acquisitions, in a fragmented UK market.