Terms of the transaction, which is subject to regulatory approvals and other closing conditions, have not been disclosed. Since acquiring OCU in 2022, Triton has worked closely with management to transform the business from a regional UK utilities services provider into a leading energy transformation and critical infrastructure platform with a growing international presence.

Over the past four years, OCU has broadened its capabilities, expanded into new geographies, and invested in its people, technology and operating platform to support its growth. The company played a major role in Scotland’s energy transition through its acquisition of RJ McLeod in 2024.

OCU employs more than 2,500 people and deploys a total workforce of around 5,500 across the UK, Australia, New Zealand, and India. In the financial year to 30 April 2026, OCU generated revenue of £1.2bn up from £295m in the year to April 2022, while its order book has surpassed £4bn. 

Mid-market private equity investor TDR will manage the next stage of OCU’s expansion, leveraging the firm’s experience internationalising, expanding and professionalising regional infrastructure assets.

Thomas Cheung, managing director at Triton, said: “OCU’s revenue has more than quadrupled to £1.2bn under Triton’s ownership, with 18 acquisitions and expansion into Australia and New Zealand. Drawing on our long track record in infrastructure services and the energy transition, we have worked closely with management to build on OCU’s strong utilities heritage and develop a scaled, integrated platform, with broader capabilities, greater international reach, and a more diversified client offering. OCU is now a significantly stronger business, well positioned for its next phase of growth.” 

Michael Hughes, chief executive at OCU Group, said: “Our focus now is on continuing to deliver for our clients, invest in our people and capabilities, and capture the significant opportunities ahead. We look forward to working with TDR – a firm with a strong track record in building leading global businesses – on the next phase of OCU’s growth.” 

Gary Lindsay, managing partner at TDR Capital, said: “With the vital challenge of the ongoing modernisation requirements across infrastructure globally and the changing dynamics within the power industry, we see a compelling need to take this platform to the next level.”

Lazard acted as exclusive financial adviser and White & Case LLP as legal adviser to Triton in connection with the transaction.