South West Water acquires Surrey's SES Water
Sutton and East Surrey Water has three-quarters of a million customers
South West Water has now bought Sutton and East Surrey Water (SES Water) which has three-quarters of a million customers.
The regulator's given permission for the takeover, with South West Water already owning Bristol Water and Bournemouth Water.
The Exeter-based firm say it'll continue investing in work to reduce to reduce storm overflows and water quality.
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.”
SES Water is a drinking water only supplier in the South East, supplying 160 million litres of clean water every day to around 745,000 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.