The sale is LDC’s third recent exit and follows last week’s sale of Birmingham-based Cable Management Group for $110 million (£70 million). The value of the South Staffordshire deal has not been disclosed.
Nottingham-based Omega Red designs, installs and maintains electrical earthing and lightning protection systems. Formed in 1998, the company employs more than 220 staff across five sites in the UK. Omega Red has an annual turnover of £16 million and provides services to sectors including rail and telecoms.
Colin McElhone, managing director of Omega Red, comments: ‘As a business, Omega Red is well positioned to progress to the next level of development and the deal with South Staffordshire offers a strategic partnership which will allow us to further our growth plans and take the business into expanding markets.’
South Staffordshire provides services to UK water and sewage utilities and local authorities. The company operates from 15 locations across the UK and has 1,100 employees. South Staffordshire is wholly owned by the investment firm Alinda Capital Partners.
Upon completion of the deal Omega Red will form part of South Staffordshire alongside the water and wastewater services division.