SSE plc has finalised the sale of its M&E specialist business SSE Contracting to Aurelius, the pan-European investment group.
SSE Contracting offers a broad scope of M&E services and has 50 offices nationwide. It is the UK’s largest street light contractor and its high voltage engineers install energy infrastructure for clients in education, healthcare and substations. Its rail division delivers mechanical, electrical and civils activity for clients including Transport for London and Network Rail.
Aurelius invests in public and private companies to enhance their growth potential.
SSE’s sale of its contracting business to Aurelius was announced on 1st April and forms part of SSE’s strategy to focus on its core networks and renewables businesses. It is also designed to give the business a strong platform for future success outside SSE.
Stuart Chaston, managing director of SSE Contracting and Rail, described the news as a “key milestone for the contracting business”.
He added: “Since we first announced the sale was taking place on April 1st, we’ve made huge strides working with Aurelius to move the Contracting business forward.
“Today’s news confirms that our journey as a stand-alone business begins in earnest from today. Aurelius has a proven record of supporting the companies they work with, so this partnership confirms an exciting era of growth for our business.”
The completion of the sale means that 1,900 SSE Contracting employees will now work under Aurelius's ownership.
SSE plc has a clear strategy to refocus investment on its core networks and renewables businesses, with plans to invest £7.5 billion mainly in low-carbon energy infrastructure over the five years to 2025, and to treble its renewable electricity output by 2030.
In September 2020 SSE plc announced in its half-year results that the SSE Contracting and Rail business would be part of the group’s overall disposals programme.
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