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.”