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Pennon Group

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Pennon Group plc
Company type Public
Industry Water and waste
Founded 1989
Headquarters Exeter , England, UK
Key people
Gill Rider ( Chair )
Susan Davy ( Chief Executive )
Revenue Increase ￡ 825.0 million (2023) [1]
Decrease ￡ 153.1 million (2023) [1]
Decrease ￡ 0.4 million (2023) [1]
Number of employees
2,864 (2023) [1]
Subsidiaries
Bournemouth Water
South West Water
Bristol Water
Pennon Water Services
Website pennon-group .co .uk

Pennon Group plc is a British water utility company based in Exeter , England. [2] The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index . 83% of the company's profits come from its subsidiary, South West Water .

History [ edit ]

The company was founded in 1989 as South West Water plc at the time of the privatisation of the Water Industry in England . [3] In 1993 it acquired Haul Waste and in 1995 it bought Blue Circle Waste Management . [3] It changed its name to Pennon Group plc in 1998. [3] By 2016, the company employed approximately 4,500 people, and provided water and sewerage to 1.7 million customers in South West England . [4]

The company successfully saw off a takeover bid from Terra Firma in 2004. [5] It acquired Thames Waste Management in 2004, [6] Wyvern Waste in 2006, [7] Grosvenor Waste Management [8] and Skipaway Holdings in 2007 [9] and Shore Recycling in 2008. [10] In 2016, the group acquired Bournemouth Water in a deal worth ￡100 million, [4] integrating the company with South West Water, but keeping the Bournemouth Water name. [11]

On 8 July 2020, global investment firm KKR completed its ￡4.2 billion acquisition of waste firm Viridor from Pennon Group. [12]

In June 2021, the company acquired Bristol Water for $563 million. [13]

Operations [ edit ]

The company's main asset is South West Water , which supplies water and sewerage services in Devon , Cornwall , and parts of Dorset and Somerset . [14] South West Water covers 83% of the group's profits. [15]

References [ edit ]

  1. ^ a b c d "Annual Report 2023" (PDF) . Pennon Group . Retrieved 13 February 2024 .
  2. ^ "Contact us" . Pennon Group . Retrieved 26 February 2021 .
  3. ^ a b c "Group History | Pennon Group PLC" . www.pennon-group.co.uk . Retrieved 16 August 2016 .
  4. ^ a b Vergnault, O. (21 January 2016). "Pennon group acquires Bournemouth Water in ￡100m deal" . Western Morning News . Retrieved 16 August 2016 .
  5. ^ "Terra Firma gives up in battle for British waste" . The Independent . Retrieved 1 April 2015 . [ dead link ]
  6. ^ "Viridor buys Thames Waste and expands landfill capacity" . letsrecycle.org . Retrieved 1 April 2015 .
  7. ^ Pennon's Viridor Waste Management buys Wyvern Waste Services for 25 mln stg Finanznachrichten, 15 May 2006
  8. ^ Viridor buys Grosvenor Waste Management for ￡81m Let's recycle, 5 December 2007
  9. ^ "Pennon Group's Viridor acquires UK waste management company for 14.7 mln stg Pennon PNN" . advfn.com . Archived from the original on 23 February 2014 . Retrieved 1 April 2015 .
  10. ^ "BBC NEWS - UK - England - Devon - Pennon buys recycle firm for ￡23m" . bbc.co.uk . Retrieved 1 April 2015 .
  11. ^ Meldrum, Neil (12 January 2016). "Jobs at risk at Bournemouth Water after ￡100 takeover" . Bournemouth Echo . Retrieved 16 August 2016 .
  12. ^ "KKR to buy recycling group Viridor in ￡4.2bn deal" . FT.com. 18 March 2020. Archived from the original on 11 December 2022.
  13. ^ "Pennon Group to offer undertakings to British regulator in Bristol Water deal" . 22 December 2021 – via www.reuters.com.
  14. ^ "Pennon Group: South West Water" . Archived from the original on 29 September 2008 . Retrieved 11 October 2008 .
  15. ^ Gollan, Paul J. (2005). Voice and non-union workplace . Bradford, England: Emerald Group Pub. p. 244. ISBN   9781845441265 . Retrieved 16 August 2016 .

External links [ edit ]

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