Enterprise wins Severn Trent deal
Support services giant Enterprise has secured an extension to a repair and maintenance contract with Coventry-based Severn Trent Water. The agreement will run until 2015 and is worth up £20m per year.
Under the terms of the deal, Leyland-headquartered Enterprise will maintain Severn Trent’s private drain and sewer network. The arrangements also include the opportunity to extend the contract for a further five years into the next water industry regulatory regime period.
“We have worked in partnership with Severn Trent since 1998 and have made a significant contribution to the many operational improvements achieved by the joint teams,” said Enterprise chief executive Neil Kirkby.
“We look forward to working with STW over the next five years to drive lower costs, improve efficiency and improve levels of customer satisfaction, through the use of our bespoke IT systems and the strength of our presence in the Midlands area.”
In September 2010, Kirkby said Enterprise’s order book at 30 June was more than £5bn, while the group’s bid pipeline is more than £10bn.
New contract wins helped to grow revenues by 3.4 per cent to £559m in the six months to 30 June, while EBITA rose by 1 per cent to £34.3m.
The company has also dipped into the deals market in recent months, buying Shropshire-based Access Hire Services, a provider of overhead power line management services, for an undisclosed sum.
