Business News
The fresh name, registered at present time, follows Amey completing the sale of its utilities commerce to industrial within most equity investor Rubicon Partners on 12th April.
Avova will now operate as a separate entity. It retains the a similar structure and management crew as when owned by Amey but that is also appointing a fresh managing director. Craig McGilvray, previously managing director of Amey Loyal Infrastructure & Utilities, is staying with Amey.
The sale is per Amey’s intention to level of curiosity on pure public sector markets, as an different of regulated industries.
Craig McGilvray acknowledged: “Right here’s a hugely sure step for every and every Avove and the wider Amey Community. The sale offers the fresh firm with the power to leverage different and provide a strategic proposition backed by development. Now the crew can level of curiosity on and proceed its upward trajectory on financial and operational efficiency. I wish them your whole excellent fortune in due path.”
Basically the most neatly-liked accounts for Amey Utility Products and providers repeat that in 2020 it generated revenues of £194m and made a pre-tax income of £5m. Amey is a subsidiary of Spanish infrastructure community Ferrovial and has itself been up for sale for loads of years.
Got a story? Email [email protected]
