DC Advisory advised OMERS Private Equity on its investment in Network Plus

Background

• Network Plus is a leading utility and infrastructure service provider which maintains, constructs, and delivers essential services to millions of customers across the UK
• Network Plus works across the water, wastewater, gas, power, telecoms, transportation and infrastructure sectors, with a workforce of over 5,000 operating out of 85 regional offices and depots nationally
• Network Plus has undergone rapid expansion, following the award of significant long-term contracts with major UK utility and infrastructure organisations
• OMERS Private Equity (OMERS) has been an active private equity investor for over 20 years. Its portfolio currently consists of investments in industry-leading companies headquartered across the U.S., Canada and Europe

Process 

• DC Advisory (DC) was engaged by OMERS to provide M&A advice in relation to the potential acquisition of Network Plus
• DC provided OMERS with due diligence and modelling support, valuation support, and strategic and process advice

Outcome

• In July 2022, OMERS announced it has entered into an agreement with management and shareholders to acquire Network Plus. This is subject to customary closing conditions and regulatory approval

• OMERS’ investment will support Network Plus’ future growth plans, including continued expansion in its core operations, and enhancing its expertise in adjacent infrastructure markets

• The incumbent management team will remain in place to drive the business into its next growth phase
• The transaction further highlights DC’s strong track record in the infrastructure services sector

“OMERS is delighted to have worked with Robert Jones, Mark Ward and the wider team on our acquisition of Network Plus. Their sector knowledge, hard work and strategic M&A advice has been instrumental in our efficient execution of this transaction. We would like to thank the DC Advisory team for their efforts and look forward to working with them in the future.”

“We are delighted to have advised OMERS on their investment in Network Plus. Network Plus is a market leader in infrastructure services, and we are confident that it will continue its exceptional growth story with OMERS as their new partner. This transaction builds upon DC Advisory’s substantial credentials in the infrastructure services sector.”