Triton-backed OCU follows-up on Opals acquisition with InICT buy

• InICT is a fibre-optic specialist
• OCU’s strategy is to add to its expertise across the north of England in the telecoms and multi-utility sectors
• OCU works with clients supporting Project Gigabit 

Triton-backed O’Connor Utilities Group (OCU) announced the acquisition of fibre-optic specialist InICT. The deal follows OCU’s purchase of telecommunications infrastructure services provider Opals. InICT installs fibre-optic cable for infrastructure clients across the north of England. It was founded in 2018 and is headquartered in Leeds.

The deal is part of OCU’s growth plans. Its strategy is to add to its own expertise across the north of England in the telecoms and multi-utility sectors.

OCU works with clients such as CityFibre, Virgin Media and KCOM. These companies are supporting the UK government’s Project Gigabit, an infrastructure project aiming to improve connectivity for homes and businesses across the UK.

“By embracing new talent through these partnerships, we are able to increase our roll-out capabilities and support the future economy on both a local and national level,” said Adrian O’Sullivan, managing director of OCU.

Manchester-headquartered OCU Group was acquired by Triton Partners in July and is a utilities contractor that was founded in 1994.

Triton Partners, the London-headquartered private equity firm, has a portfolio of 49 companies. It invests across strategies in the industrial tech, services, consumer and healthcare sectors. Triton Fund V was established in 2018 and has raised capital commitments of €5.2 billion.