Credit, Collections & Insolvency News
Pennon Group the owner of South West Water, Bristol Water and Bournemouth Water, has announced the purchase of Sumisho Osaka Gas Water UK the holding company of Sutton and East Surrey Water (SES Water) for £380 million.
The deal will see Pennon add SES Water’s customer base of more than 750,000 and expand its scale further across the South of England. The Group employs 476 staff and is headquartered in Redhill, Surrey.
Susan Davy, Group Chief Executive of Pennon Group, said “SES Water is a fantastic growth opportunity for Pennon, demonstrating our commitment to the UK water industry. As part of the Pennon Group, we will enhance SES Water’s financial resilience and better position the business to serve its customers and all stakeholders, as has proven to be the case with our acquisitions of Bournemouth Water and Bristol Water.
“We are able to invest in SES Water’s resources infrastructure, environment and people thanks to our strong financial performance and long-term UK shareholder base, delivering a seamless transition for SES Water’s customers while also providing an even more robust and reliable service to customers.
“Having submitted our biggest investment plan of £2.8 billion from 2025-30 to date, a plan which will create 2,000 new jobs and improve long-term water resilience, the acquisition of SES Water comes at a time of great promise for our business, and I am looking forward to this next exciting chapter in our development.”