Pennon Group
 |
|
| Public | |
| Traded as | : |
| Industry | Water and waste |
| Founded | 1989 |
| Headquarters | Exeter, Devon, UK |
|
Key people
|
Sir John Parker (Chairman) Christopher Loughlin (Chief Executive) |
| Revenue | £1,352.3 million (2016) |
| £261.8 million (2016) | |
| £168.3 million (2016) | |
|
Number of employees
|
4,987 (2016) |
| Subsidiaries |
South West Water Viridor |
| Website | www |
Pennon Group plc is a British water utility and waste management company based in Exeter, Devon in the United Kingdom. The company is listed on the and is a constituent of the FTSE 250 Index. 83% of the company's profits come from its subsidiary, South West Water.
The company was founded in 1989 as South West Water plc at the time of the privatisation of the Water Industry in England. In 1993 it acquired Haul Waste and in 1995 it bought Blue Circle Waste Management. It changed its name to Pennon Group plc in 1998. By 2016, the company employed approximately 4,500 people, and provided water and sewerage to 1.7 million customers in South West England.
The company successfully saw off a takeover bid from Terra Firma in 2004. It acquired Thames Waste Management in 2004,Wyvern Waste in 2006,Grosvenor Waste Management and Skipaway Holdings in 2007 and Shore Recycling in 2008. In 2016, the group acquired Bournemouth Water in a deal worth £100 million, integrating the company with South West Water, but keeping the Bournemouth Water name.
The company's main asset is South West Water, which supplies water and sewerage services in Cornwall, Devon and parts of Dorset and Somerset. South West Water covers 83% of the group's profits. It also owns Viridor, a waste management business which includes 241 sites including 24 landfills. In 2016, the company announced that they would be closing some of their recycling sites as part of a £9 million cost saving exercise, which would lead to 5% job losses.
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Wikipedia