Completion took place on 12th April and the business will now operate as a separate entity.
Avove, as it will now be known, provides water and power maintenance services to clients such as Yorkshire Water and Severn Trent. It will retain the same structure and management team as when owned by Amey, but will appoint a new managing director.
The sale is part of the Amey strategy to focus on its public sector-offering. Amey has previously stated its intention to focus its core businesses around transport infrastructure, secure infrastructure and consulting sectors.
Craig McGilvray, managing director of the legacy Amey Utilities business commented: “The sale provides the new company with the ability to leverage opportunity and offer a strategic proposition backed by growth. Now the team can focus on and continue its upward trajectory on financial and operational performance. I wish them all the luck in the future.”
