Pennon Group
Encyclopedia
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 London Stock Exchange
and is a constituent of the FTSE 250 Index
.
. 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.
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.
, which supplies water and sewerage services in Cornwall
, Devon
and parts of Dorset
and Somerset
. It also owns Viridor
, a waste management business.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
water utility and waste management company based in Exeter
Exeter
Exeter is a historic city in Devon, England. It lies within the ceremonial county of Devon, of which it is the county town as well as the home of Devon County Council. Currently the administrative area has the status of a non-metropolitan district, and is therefore under the administration of the...
, Devon in the United Kingdom. The company is listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and is a constituent of the FTSE 250 Index
FTSE 250 Index
The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies on the London Stock Exchange. Promotions to and demotions from the index take place quarterly in March, June, September and December...
.
History
The company was founded in 1989 as South West Water plc at the time of the privatisation of the Water Industry in EnglandEngland
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
. 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.
The company successfully saw off a takeover bid from Terra Firma
Terra Firma Capital Partners
Terra Firma Capital Partners Ltd is a leading U.K.-based private equity firm, best known for its failed investment in British music company EMI. Financier Guy Hands founded the firm in 2002 through the spin-off of Nomura Principal Finance Group...
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.
Operations
The company's main asset is South West WaterSouth West Water
South West Water provides drinking water and waste water services throughout Cornwall and Devon and in small areas of Dorset and Somerset. South West Water came into being in 1989 with the privatisation of the water industry...
, which supplies water and sewerage services in Cornwall
Cornwall
Cornwall is a unitary authority and ceremonial county of England, within the United Kingdom. It is bordered to the north and west by the Celtic Sea, to the south by the English Channel, and to the east by the county of Devon, over the River Tamar. Cornwall has a population of , and covers an area of...
, Devon
Devon
Devon is a large county in southwestern England. The county is sometimes referred to as Devonshire, although the term is rarely used inside the county itself as the county has never been officially "shired", it often indicates a traditional or historical context.The county shares borders with...
and parts of Dorset
Dorset
Dorset , is a county in South West England on the English Channel coast. The county town is Dorchester which is situated in the south. The Hampshire towns of Bournemouth and Christchurch joined the county with the reorganisation of local government in 1974...
and Somerset
Somerset
The ceremonial and non-metropolitan county of Somerset in South West England borders Bristol and Gloucestershire to the north, Wiltshire to the east, Dorset to the south-east, and Devon to the south-west. It is partly bounded to the north and west by the Bristol Channel and the estuary of the...
. It also owns Viridor
Viridor
Viridor is a waste management company in the United Kingdom, owned by Pennon Group, a FTSE 250 based plc focused on the water and waste management industries.Viridor was formed in 1993, by purchasing companies in the landfill market...
, a waste management business.