OCU Group, a portfolio company of Triton V, has announced the completion of its acquisition of RJ McLeod, a contractor in Scotland's energy transition sector.
The portfolio company is a service provider for the UK’s energy transition and utilities infrastructure.
The financial terms of the deal remain undisclosed.
This move is expected to expand OCU's capabilities in renewable energy services and increase the company’s pro forma revenues to more than £800m ($1.02bn).
Meanwhile, RJ McLeod, headquartered in Glasgow and Dingwall, brings more than seven decades of engineering solutions experience to a diverse client base in Scotland.
The company specialises in renewable energy projects, including onshore wind farms, battery storage, and hydroelectric developments.
Additionally, it has established a presence in grid and substation construction, the marine sector, and other civil engineering services within the country.
OCU Group CEO Michael Hughes said: “The RJ McLeod acquisition marks a key milestone in the OCU Group journey to become the leading energy transition and utilities contractor in the UK. RJ McLeod has unrivalled engineering expertise and reputation which further strengthens our offering to clients.
“This breadth and depth of delivery capability provides us with more strategic options when delivering end-to-end programmes. Together, we are well-placed to lead the way in the UK’s energy transition delivery.”
Triton V acquired OCU in 2022 and has since supported the company’s various growth initiatives.
These include the completion of 11 acquisitions aimed at enhancing the group's geographic reach, service range, and more.
Triton Partners investment advisory professional Thomas Cheung said: “Triton invested in OCU Group as we saw an opportunity to build a leader in a highly defensive and growing subsector that is backed by long-term tailwinds.
“The acquisition of RJ McLeod maintains the strong growth momentum under our ownership and firmly places OCU at the forefront of the energy transition.”
