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Wessex has taken full ownership of Albion Water, having first invested in the company in 2016.
Wessex exercised its option of buying the remaining 49 per cent stake in the New Appointment and Variation (NAV) company from Water Level.
Albion, which was formed by Water Level’s Dr Jerry Bryan, is described by Wessex as “the first entrant to drive real competition in the water sector for the provision of water and sewerage services”.
The company, which has sites in Gloucestershire, Hampshire, Essex and Kent, serves around 4,000 customers. It also has several commercial water management partnerships.
Charley Maher, managing director of the retail and commercial arm of Wessex, said: “The Albion Water team have taken on the challenge of providing developers with more sustainable solutions for new developments, including grey water recycling and nature-based flood alleviation measures.
“After a five year joint venture, now is the right time for Wessex Water to take greater ownership as we develop the business further and explore holistic green energy and nature-based solutions.”
Bryan said: “I’m immensely proud to have played a leading part in the Albion story since its beginnings as the first competitive entrant to the water market in 1999 and in building its current reputation as the most innovative player in the market.
“I wish Wessex Water well as it writes the next chapter in the Albion story. For my part, I will continue to strive for a more innovative and sustainable water industry. We have a long way to go.”
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