SOUTH STAFFORDSHIRE PLC NEWS ARTICLE
02/08/13 - South Staffordshire Plc acquired by KKR
On 30 July 2013 South Staffordshire Plc was acquired by the Global Infrastructure Fund of investment firm Kohlberg Kravis Roberts & Co L.P. ("KKR"), together with certain of their infrastructure co-investors.
There is no change in the existing management team of the Group following the sale. The acquisition will not affect the Group's operation or employees and the current high levels of service will continue to be provided to the customers of each of the Group's businesses.
Adrian Page, Chief Executive of South Staffordshire Plc said "We are delighted with becoming part of such a well respected investment firm as KKR and look forward to working with them".
Jesús Olmos, Member of KKR, Head of European Infrastructure at KKR and the new Chairman of South Staffordshire Plc said: "KKR has a strong track record of investing in infrastructure and service businesses. We look forward to a long-term partnership with South Staffordshire and to support the Group in maintaining its reputation as a first-class operator".
- 1) On 3 May 2013 it was announced that Alinda Capital Partners had agreed to sell South Staffordshire Plc to KKR
- 2) About KKR – founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $83.5 billion in assets under management at 30 June 2013. With offices around the world, KKR manages assets through a variety of investment funds covering multiple asset classes.
- 3) About South Staffordshire Plc – a leading operator in the UK water sector with its regulated water supply business (trading as South Staffs Water and Cambridge Water) providing the highest levels of service in the industry, together with its non-regulated specialist service businesses (SSI Services and Echo) that operate in the water, other infrastructure and public sectors.