Investment case

• Our businesses work in markets with high barriers to entry which demand a highly skilled, experienced workforce and a proven track record of safe delivery.
• We develop our range of specialist skills enabling us to provide a more efficient and valuable service to our clients.
• We target acquisitive opportunities that both broaden our range of capabilities and provide entry into markets that benefit from long-term regulatory spending programmes.
• We develop long-term relationships with our clients, delivering both planned and reactive services to maintain their infrastructure assets. 

We have a proven history of shareholder value creation through consistent execution of our strategy to deliver reliable capital growth.

We have a track record of organic growth and M&A in high-margin, high-growth end markets, twinned with strong cash generation and shareholder returns.

We operate in markets underpinned by resilient, long-term growth dynamics and committed regulatory spending periods, with maintenance and renewals expenditure continuing to increase.

We deliver the day-to-day renewal and maintenance tasks required to keep critical networks operational.

• Markets with committed regulatory funding
• Delivering mission-critical infrastructure services across the UK
• Low-risk, non-discretionary maintenance and renewals
• Operating in complex, challenging and highly regulated environments
• Highly skilled, directly employed workforce
• Proven track record of compounded earnings growth and strong cash generation
• Committed to adding value through innovation and collaboration

The Group is committed to growing the business in its chosen markets both organically and through selective complementary acquisitions whilst maintaining a disciplined approach to capital allocation and risk.

Our purpose-led ESG approach enables us to add value to our customers through investment in innovation and technology, assisting in the delivery of the UK’s net-zero carbon target by 2050.