South Staffordshire Plc (SSPlc), the Walsall-based integrated services group, has acquired multi-utility infrastructure provider Infrastructure Gateway Ltd for an undisclosed sum. Dow Schofield Watts’ corporate finance and transaction services teams advised SSPlc on the deal.
Backed by its shareholder, and funds managed by Arjun Infrastructure Partners, SSPlc operates two regulated water companies – South Staffs Water and Cambridge Water – and a range of complementary non-regulated businesses that serve essential services markets. The group employs over 3,000 people.
The acquisition marks a key milestone in the growth of its clean energy business, which already includes electric vehicle charging infrastructure and turnkey ground source and district heating services, to further support its customers’ decarbonisation goals.
Kettering-based Infrastructure Gateway Ltd (IGL) is the UK’s largest independent multi-utility infrastructure provider, serving residential housebuilders and commercial developers across the East of England. One of a select group of UK companies accredited under the Lloyds Register and holding Multi Utility Registration Status, IGL is also one of the UK’s top three providers of water connections to Ofwat-appointed NAVs (New Appointments and Variations).
Phil Newland, CEO of South Staffordshire Plc, commented: “This acquisition brings a highly complementary capability to our existing services, helping us to further strengthen our energy infrastructure and decarbonisation offerings.”
SSPlc was advised by Dan Walker, Alex Odlin, and Gregg Pendlington from Dow Schofield Watts’ North West corporate finance team, while James Killing of the transaction services team in London provided financial due diligence.
Dan Walker said: “It was a pleasure to have supported the SSPlc team on this significant acquisition. With the demand for energy infrastructure to support new housing as strong as ever, IGL’s team has positioned the business well to help address that demand. We wish the company and its employees all the best as they continue their growth journey as part of the SSPlc group.”
Andrew Smith and Gweni Rees-Evans of Shakespeare Martineau provided legal advice to the company.
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