South Staffs Water owner jump ship with sale of stake to institutional investors
Controlling stakeholder in South Staffs Water’s owner, South Staffordshire plc has sold off its shares to a group of investors for an undisclosed sum.
Investment firm KKR has agreed to sell its 75% equity in South Staffordshire to pension funds and other institutional investors advised by infrastructure investment advisor, Arjun Infrastructure Partners. KKR bought the group in 2013.
South Staffordshire’s group chief executive, Adrian Page, said: “We welcome Arjun as a long-term investor based in the UK.”
Founding partner of AIP, Surinder Toor, said the advisor’s investors are all natural long-term owners of infrastructure businesses.” He went on: “ We are excited to be working alongside the management team and the existing shareholder, Mitsubishi Corporation. Our priority will be to support Adrian Page and his team in continuing to deliver for their customers and the local community.”