Key Takeaways
- • Warburg Pincus has agreed to acquire Network Plus, one of the UK's leading utility and infrastructure services providers, from OMERS Private Equity and shareholders, marking a significant transaction in the UK critical infrastructure sector.
- • Network Plus operates across gas, power, telecom, transport, and water markets in the UK, having been acquired by OMERS from Livingbridge in September 2022, demonstrating active portfolio cycling within the alternative asset management space.
- • The transaction is contingent on regulatory approval; upon completion, Network Plus' existing leadership team and brand identity will remain intact with no operational disruption to client service delivery.
- • Kirkland & Ellis served as legal counsel to Warburg Pincus on the acquisition, with a cross-functional team handling corporate and tax matters across the transaction structure.
- • No deal valuation was disclosed in available sources, though the transaction underscores Warburg Pincus' strategic focus on growth-stage investments in essential infrastructure and utility services in developed markets.
Summary
Warburg Pincus has entered into an agreement to acquire Network Plus from OMERS Private Equity and shareholders. Network Plus is one of the UK's leading utility and infrastructure services providers, serving critical markets including gas, power, telecom, transport, and water. The business was previously acquired by OMERS from Livingbridge in September 2022, representing a typical hold period cycle for growth-focused private equity vehicles managing UK infrastructure assets.
The transaction remains subject to regulatory approval before completion. Upon closing, the companies have committed to maintaining operational continuity and preserving the strategic identity of the business. Network Plus' existing leadership team will remain in place, and the company's branding and day-to-day client service delivery will remain unchanged. This stability-focused approach is consistent with infrastructure sector best practices and signals Warburg Pincus' intention to build on the existing management infrastructure and operational framework established under OMERS' stewardship.
Kirkland & Ellis advised Warburg Pincus on the acquisition, with a comprehensive legal team handling both corporate and tax dimensions of the transaction. The Kirkland team included corporate lawyers Adrian Maguire, Keir MacLennan, Jiri Peterka, Matthew Barbato, and George Rix, alongside tax specialists Peter Abbott, Amy Francis, and Natasha Haftke. The transaction reflects Warburg Pincus' established positioning as a pioneer in global growth-stage private equity investing, with particular emphasis on essential infrastructure and utility services in mature markets. No transaction valuation was publicly disclosed in available sources.
The transaction remains subject to regulatory approval before completion. Upon closing, the companies have committed to maintaining operational continuity and preserving the strategic identity of the business. Network Plus' existing leadership team will remain in place, and the company's branding and day-to-day client service delivery will remain unchanged. This stability-focused approach is consistent with infrastructure sector best practices and signals Warburg Pincus' intention to build on the existing management infrastructure and operational framework established under OMERS' stewardship.
Kirkland & Ellis advised Warburg Pincus on the acquisition, with a comprehensive legal team handling both corporate and tax dimensions of the transaction. The Kirkland team included corporate lawyers Adrian Maguire, Keir MacLennan, Jiri Peterka, Matthew Barbato, and George Rix, alongside tax specialists Peter Abbott, Amy Francis, and Natasha Haftke. The transaction reflects Warburg Pincus' established positioning as a pioneer in global growth-stage private equity investing, with particular emphasis on essential infrastructure and utility services in mature markets. No transaction valuation was publicly disclosed in available sources.
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