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European private equity houses Cognetas and Englefield Capital have jointly acquired Morrison Utility Services (Morrison US) for £135 million in a deal that saw them invest alongside the management team.

Hertfordshire-headquartered Morrison US is a subsidiary of Anglian Water Group and service provider to the UK and Ireland markets within the electricity, gas, telecommunication and water sectors. The company cites turnover of £500 million for the year ending March 2008 and manages a contracted order book in excess of £1.4 billion.

Englefield Capital partner Edmund Lazarus comments: “Englefield has a track record of successful investments in the utilities and outsourced services sectors. The management team behind Morrison US provides consistent service to its customers and has potential for growth as an independent business.”

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