Private equity firms Buckthorn Partners of the UK and One Equity Partners (OEP) of the USA completed their £400m acquisition of Amey from Ferrovial on 30th December 2022 and immediately installed Andy Milner as chief executive officer.
Milner first became chief executive in February 2016 after nearly eight years as managing director of the legacy Owen Williams business – road and rail consultancy work. However, he left Amey in December 2019 and has recently been working as executive chairman of utilities contractor Matrix Networks.
Andy Milner said: “I have always believed that Amey can really be at the forefront of delivering the UK’s infrastructure needs. I can see so much potential for growth and development in the business that will benefit both our people and our clients. The most important aspect of Amey for me is our people, and I will prioritise getting out and seeing our teams who really do keep the country operating.”
Nicholas Gee, founding partner at Buckthorn Partners, said: “We are delighted to appoint Andy as chief executive. We have worked closely with him throughout this whole process, and we share his passion and enthusiasm for Amey and its continued success under our ownership.
“Buckthorn and OEP will invest in Amey to strengthen and grow the business and to access new opportunities, particularly in energy transition.”
OEP principal Ante Kusuri added: “When looking at carveouts of corporate assets, we look for companies with strong fundamentals that will allow them to thrive as independent businesses.
“Amey is an established business in the UK industrial services sector with a mission critical service offering and a blue-chip customer base.
“We are excited to back Andy and the Amey management team in what we believe is a significant market opportunity to pursue continued growth in the UK market and also abroad.”
Buckthorn partners include former chancellor of the exchequer Philip Hammond, while the firm’s chairman is former sports minister Colin Moynihan – both of whom now sit in the House of Lords on the Conservative Party benches.
Got a story? Email [email protected]