OCU Group, founded by West Cork brothers, acquired by Triton 

During the last financial year, the firm recorded an annual revenue of approximately £300m (€352m).

UK-based OCU Group has been acquired by investment firm Triton for a reported sum of around €500m.

Founded by Tim and Tom O'Connor, two brothers from West Cork, OCU is the holding company of O’Connor Utilities and Instalcom. 

"It is a bittersweet moment as we say goodbye to many friends amongst our colleagues, customers, and suppliers, without whom the business would not have achieved the success it has," said the brothers in a statement.

"We leave behind an exceptional management team that, with the support provided by Triton and leadership of CEO Michael Hughes, will ensure the best days of the business lay ahead. We wish all ongoing future success," the said.

OCU is a leading UK multi-utility services specialist and employs over 2,000 people across the UK.

During the last financial year, the firm recorded an annual revenue of approximately £300m (€352m).

The company was established in 1994 and offers a large variety of customer-focused business solutions throughout the UK and Ireland.

The firm works with a large blue-chip client base in all utility areas from electricity and gas to water, telecoms and rail.

“The acquisition by Triton marks the end of an exceptional three decades of ownership by the O’Connor family. Tim and Tom have been phenomenal stewards of the business and we are thankful for all they have done," said Michael Hughes, OCU CEO.

Mr Hughes continued: "As we look ahead, our focus is on ensuring that the business continues to grow and evolve, whilst also maintaining the strong culture and approach to customer service that they have instilled, and which remains our key differentiator. Our partnership with Triton will help to facilitate further growth and allow us to better take advantage of strategic opportunities in our core sectors.”