United sells Vertex in £217m deal

United Utilities, a UK operator of water and wastewater, today agreed to sell its business outsourcing division in a deal worth £217.5 m (€329.7m) with a consortium of US private equity firms.

The disposal of Vertex, which works with companies to improve management processes and build customer relations, will enable United to concentrate on its core operations of managing water, wastewater, electricity and gas networks.

The Liverpool-based operation has been bought by a group headed by Oak Hill Capital. The deal should be completed by the end of March and will enable Vertex to move to the next stage of its development, United said in a statement.