Triton Partners is buying O'Connor Utilities for about £400m amid an increasingly bleak environment for UK private equity deals, Sky News learns.
A family-run industrial group is to change hands for £400m, giving a much-needed boost to a deals market slowing down amid growing economic anxiety.
Sky News has learnt that Triton Partners is on the verge of an agreement to acquire O'Connor Utilities Group, which is based in Manchester.The takeover will come amid a tough environment for takeovers by private equity firms, which have found securing debt packages increasingly tricky during the last month.
In recent weeks, the sales of Boots and Parkdean Resorts - worth a combined £7bn - have been abandoned because of the torrid economic backdrop.Triton owns a number of businesses in the UK, including Chevron Traffic Management, Pharmanovia and Clinigen.More from Business
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