Pennon Group, owner of South West Water, Bristol Water and Bournemouth Water, has announced the purchase of Sumisho Osaka Gas Water UK Limited, the holding company of Sutton and East Surrey Water plc (“SES Water”).
SES Water is a drinking water only supplier in the South East, supplying 160 million litres of clean water every day to around 750,000 customers across East Surrey, West Sussex, West Kent and South London. The Group employs 476 staff and is headquartered in Redhill, Surrey. It was put up for sale last year, by its owners Sumisho Osaka Gas Water UK Limited.
The acquisition of SES Water is in addition to Pennon’s current water business expected investment of £850 million over 24 months. In October 2023, the Group also submitted its plans to double investment to £2.8 billion from 2025-30 across our four key areas of water quality and resilience and tackling storm overflows and pollutions, delivering for customers and addressing affordability, reaching net zero and enhancing environmental gains.
The acquisition of SES Water follows Pennon’s purchase and integration of Bournemouth Water in 2015 and Bristol Water in 2021, alongside the integration of water supply and wastewater in the Isles of Scilly in 2018.
Commenting, Susan Davy, Group Chief Executive of Pennon Group, said:
“SES Water is a fantastic growth opportunity for Pennon, demonstrating our commitment to the UK water industry.
“As part of the Pennon Group, we will enhance SES Water’s financial resilience and better position the business to serve its customers and all stakeholders, as has proven to be the case with our acquisitions of Bournemouth Water and Bristol Water.
“We are able to invest in SES Water’s resources infrastructure, environment and people thanks to our strong financial performance and long-term UK shareholder base, delivering a seamless transition for SES Water’s customers while also providing an even more robust and reliable service to customers.
“Having submitted our biggest investment plan of £2.8 billion from 2025-30 to date, a plan which will create 2,000 new jobs and improve long-term water resilience, the acquisition of SES Water comes at a time of great promise for our business, and I am looking forward to this next exciting chapter in our development.”
