Omega Red sold to South Staffordshire
The Midlands office of private equity firm LDC has sold its stake in lighting protection company Omega Red, based in Nottingham, to utility service group South Staffordshire.
South Staffordshire said that Omega Red “will sit alongside its water and wastewater services division”.
The sale of Nottingham-based Omega Red is the third strategic sale completed by LDC Midlands’ team in the last few weeks.
Omega Red employs more than 220 people across five sites within the UK and operates in markets including rail, power, construction, renewable energy and telecoms.
The company has achieved organic sales and profit growth since LDC invested in the business; turnover has increased from £13.5m to £16m in less than three years.
Utility services group South Staffordshire is wholly owned by Alinda Capital Partners, a European and American investor in infrastructure assets. South Staffordshire’s services business operates out of 15 locations across the UK and has more than 1,100 employees.
Omega Red will form part of South Staffordshire and which primarily focuses on repair and maintenance within the infrastructure and utility markets.
Colin McElhone, managing director of Omega Red, said: “The financial and strategic support that we have received from LDC over the last few years has been invaluable and has helped us to accelerate organic growth within our core markets. By actively improving our customer relations management, we have strengthened our market leading position and successfully increased our customer base.
“As a business, Omega Red is well positioned to progress to the next level of development and the deal with South Staffordshire offers a strategic partnership which will allow us to further our growth plans and take the business into expanding markets.”
