Subscribe to our Newsletter to increase your edge. Don’t worry about the news anymore, through our newsletter you’ll receive weekly access to what is happening. Join 120,000 other PE professionals today.
The independent infrastructure contractor will continue to operate under the leadership of managing director John Dowsett, who will now become CEO.
David Fison, former CEO of Skanska UK and Osborne Group for six years, will return to the civils business as chairman.
Richard Sanders, Founding Partner of Sullivan Street, said: “We are excited to be acquiring a business with a fantastic reputation and which provides essential infrastructure to the nation’s transport networks.
“We look forward to supporting the management team as OIL enters its next chapter as a focused independent business.”
Dowsett said: “We are delighted to welcome the investment and support from Sullivan Street which will help us to achieve the growth ambitions set out within our business plan.”
Andy Steele, Chief Executive of Osborne added: “Having secured the very best sponsor for Osborne Infrastructure Ltd, we now have an amazing opportunity to prioritise our investments and focus our energy and resources into becoming market leaders in the residential and education sectors.
“This move provides us greater clarity of purpose and with our in-house expertise we can add value into every stage of the property lifecycle.
“Through offering end-to-end land acquisition through operation and property maintenance, we will provide sustainable, intelligently designed spaces that improve people’s lives.”
Source: Construction Enquirer
Can’t stop reading? Read more
Takeover Thursday: Private equity’s top takeovers
Takeover Thursday: Private equity’s top takeovers Sycamore Partners is finalizing a deal to...
Couche-Tard pushes $47bn bid for 7-Eleven, insists takeover remains friendly
Couche-Tard pushes $47bn bid for 7-Eleven, insists takeover remains friendly Alimentation...
Advent International acquires Sauer Brands, parent company of Duke’s Mayonnaise
Advent International acquires Sauer Brands, parent company of Duke’s Mayonnaise Advent...