RJ McLeod will retain its own identity with OCU Group, continuing to operate under the same name, with the same staff and same locations.
OCU said that the acquisition enhanced its market positions in battery energy storage systems (BESS), wind power, hydro power, substation construction and grid reinforcement.
RJ McLeod’s most recent accounts show sales of £210m in year to October 2022 and pre-tax profit of £18.6m. In the year to April 2023, OCU Group turned over £455m,
OCU said that with this acquisition its financial year 2025 revenue would top £800m.
OCU was founded by 1994 by brothers Tim and Tom O’Connor as O’Conner Utilities Group. They sold it to private equity firm Triton Partners in August 2022, since when it has made several acquisitions.
“The RJ McLeod acquisition marks a key milestone in the OCU Group journey to become the leading energy transition and utilities contractor in the UK,” said OCU chief executive Michael Hughes. “RJ McLeod has built an unrivalled engineering expertise and reputation which now further strengthen our offering to clients. The breadth and depth of OCU and RJ McLeod’s delivery capability provides us with more strategic options when delivering end to end programmes for our valued clients. Together, we are well placed to lead the way in the UK’s energy transition delivery.”
Bruce Clark, joint managing director of RJ McLeod, said: “Since the business was founded by Roderick John MacLeod in 1951, we have carried the ethos of enabling people to give their best and we are very proud of the team that has brought us to where the business is today. Looking forward we see even greater opportunities to maintain and grow the impact of our people and delivery for our clients within the OCU Group family.”
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