Bucks-based B P Collins advises Modus Utilities on sale to OCU Group
Buckinghamshire’s B P Collins has advised the shareholders of multi-utility specialist Modus Utilities Limited in the sale of their business to OCU Group Limited.
The combined team from corporate and commercial, and property and employment at B P Collins was led by Partner Alex Zachary. He was joined by Senior Associates Beth Miel and Simone Ganley, Solicitors Holly McNeil and Greg Clark, and Trainees Stella Seimeni and Harry Berryman.
Modus is now set to operate under OCU Modus Limited.
Alex said: “We were introduced to the Modus shareholders by a trusted referrer about a year ago and hit it off straight away. We are absolutely delighted to have helped them find a home for Modus within the OCU Group, where its success will undoubtedly continue. We wish them every success in the future.”
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Based in London, Modus offers design and build services for complex power networks and substations, including solar farms and battery storage facilities. It also provides maintenance and emergency response to its clients, which range from distribution network operators to major developers and energy providers.
With Modus on board, OCU gains new capabilities to build and connect large-scale private wire grid connections and install entire energy networks. The Group hopes to explore new energy-related opportunities throughout 2023 and beyond, which the acquisition should help to facilitate.
Michael Hughes, CEO of OCU Group, said: “If the UK is to reach Net Zero by 2050, we’ll need a mix of renewable power to get there. We know there is a pressing need to make alternative energy sources more accessible for people across the country and working with firms like Modus will be part of the solution.
“The deal will also help us provide the infrastructure to help homes and businesses benefit from green energy sources. We look forward to working with Modus and adding to our portfolio as we increase our work across the renewables sector.”
This marks OCU’s fifth acquisition in just over 12 months, with other purchases including a fibre-optic specialist, a regional multi utilities hub, and a telecom installation firm. It also saw revenues up 34 per cent on the previous year for the year ended 30 April 2022 – growth which it expects to continue in 2023.
Going forward, the Group is looking to refocus its business to reflect the changing nature of the UK infrastructure market, and as such has opened two new divisions, OCU Utility Services and OCU Services. It is hoped that this will better align the company with future growth priorities.
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