SSE Contracting sold to private equity firm Aurelius

Grant Prior 2 weeks ago
Share

Investment group Aurelius has reached an agreement with SSE plc to buy its contracting business.

The sale of the mechanical, electrical and street lighting specialist SSE Contracting will be completed by the end of June when around 1,900 employees will start work under the new ownership.

Energy giant SSE’s sale of its contracting business is part of its stated ambition to secure at least £2bn from disposals of non-core assets by autumn 2021.

Stuart Chaston, Managing Director of SSE Contracting and Rail, said: “Aurelius has a proven record of actively supporting the companies they work with, so this partnership heralds an exciting era of growth for our Contracting business.

“The UK has a strong pipeline of infrastructure projects, so we see an addressable market of significant scale for companies with the experience of SSE Contracting.

“I am confident the Contracting business will flourish once it has established itself as a standalone business – winning and delivering new work across the UK. We will be working flat out with our clients and partners to ensure a smooth period of transition.”

Tristan Nagler, UK Managing Director of Aurelius, added: “As other sellers before, SSE recognised Aurelius to be the partner of choice to execute the divestment of a promising business unit, establishing SSE Contracting as a standalone business so it can fully take advantage of new growth opportunities.

“We are mutually committed to ensuring that SSE and SSEC continue to have a productive working relationship into the future.”

Latest news

Bauer/Keller JV to start £95m HS2 foundations job

Over 200 ground engineering experts will work on Chilterns to Warwickshire stretch
14 mins ago

All phases of £161m north London housing scheme approved

Countryside gains planning for full Peel Place in Kilburn
40 mins ago

Kane nets £29m MEP package on Balfour resi blocks

Specialist to focus on offsite construction across four south London towers from 11 to 30 storeys
12 mins ago

Formula 1 flywheel tech powers up Kier tower crane

Innovative energy storage technology delivers 40% fuel saving at Shakespeare North site
19 hours ago

Willmott Dixon bags £23m futuristic car park in Gateshead

10-storey steel-framed car park will be fitted with photovoltaic panels
17 hours ago

Construction rebound resumes as output jumps 1.6%

Optimism grows as commercial new work jumps 4%
22 hours ago

Laing O’Rourke targets staff gender balance by 2033

New mission statement also commits to operational net zero by the end of the decade
1 day ago

Ex-Wates Resi MD launches housing contractor Real

Paul Nicholls launches builder after buying Rydon Construction's businesses in the south
2 days ago

Billington warns of further steel price volatility ahead

Profits plunge by over 70% to £1.6m after Covid impacts sales and steel prices soar
24 hours ago

Green light for £46m Shoreditch hotel and office scheme

Construction to start next year on former street food site
24 hours ago

B&K set for £200m Nottingham Broadmarsh offices scheme

400,000 sq ft New Albion Place scheme planned next to old Broadmarsh shopping centre
1 day ago

Readie lands £28m deal for Moog Controls centre

Contractor confirmed by developer Barberry at Tewkesbury site
1 day ago

BAM names new construction chief for Scotland

Jim Ward replaces Bruce Dickson who is promoted to Royal BAM
2 days ago

Costain head of digital construction leaving

Contractor and chief digital officer Nathan Marsh part company
2 days ago

Bristol Uni puts back £300m Temple Quarter start to 2022

Delay supports design rethink to create more flexible space post-Covid
2 days ago

Engie gets green light for Rugeley Power Station revamp

Remediation work to start on site next month before cooling towers come down
2 days ago

FM Conway nabs infrastructure for Kent innovation park

Deal paves way for 1.1m sq ft Innovation Park Medway
2 days ago

Planning for 1,000 homes at north west London hospital site

Network Homes gains outline planning for full Northwick Park Hospital site regeneration scheme
2 days ago

Eric Wright to start £21m Burnley retail scheme

Work to start this summer on Pioneer Place shops and leisure development
2 days ago

Contractor jailed for filling old quarry with hazardous waste

M E Foley (Contractors) boss jailed for over two years
5 days ago

Bids invited for £540m JV North contractors framework

Race start for places on northern housing association consortium new-build framework
5 days ago

Contractor moves to four-day-week to boost work/life balance

Building and renovation specialist Orocco to give all site and office staff Fridays off
5 days ago

Scaffolding collapses on top floor of apartment site

Roads sealed off around resi job after scaffolding damaged during high winds
5 days ago

£250m South East Consortium housing framework winners

Vistry and Wates gain places on major projects lot for first time
5 days ago

Construction buyers report strong “spring surge” in output

Industry output expands at sharpest pace since September 2014
6 days ago

Three consortia shortlisted for Britain’s longest road tunnel

Murphy joins international line-up of firms shortlisted for £2.3bn Lower Thames Crossing
7 days ago

Arup staff have bank details hacked by cyber criminals

Ransomware attack sees staff data compromised at consultant
6 days ago

Skanska to switch all site equipment to vegetable oil power

Contractor wants to go all electric or hydrogen powered when technology allows
6 days ago

Lead time warnings on cement and aggies deliveries

Heavyside products and plastic drainage products join supply bottleneck list
7 days ago

Taylor Woodrow secures £328m Somerset A358 upgrade

Vital 9-mile section of A358 will be dualled to the M5
6 days ago

Contractor services