Financial statements
Strategic report
Governance
129 OCU Group Annual report and financial statements 2026
Notes to the consolidated financial statements continued for the year ended 30 April 2026
24. Group entities continued
Transactions with group companies which are not wholly owned During the year, the Group made intercompany loans to OCU AEC Pty Limited; at 30 April 2026, a balance of £31.4m remained outstanding in respect of loan principal balances. During the year, the Group charged interest on intercompany loan amounts with OCU AEC Pty Limited of £3.0m; at 30 April 2026, this balance remained outstanding. During the year, the Group charged management fees to the group companies which are not wholly owned amounting to £0.1m; at 30 April 2026, this balance remained outstanding. There are no other material related party transactions in the year ended 30 April 2026 (30 April 2025: £nil) or balances held at 30 April 2026 (2025: £nil). 26. Controlling party At 30 April 2026, the Company's ultimate parent undertaking is Triton Managers V Limited, a company registered in Jersey, with registered address Cooil House, 5-6 Esplanade, 1st Floor, St. Helier, Jersey JE2 3QA. Oat Topco Limited is the largest group for which consolidated accounts are prepared, with registered office Artemis House, 6-8 Greek Street, Stockport, England, SK3 8AB. OCU AEC Pty Limited is the smallest group for which consolidated accounts are prepared, with registered office 9 Hercules St, Hamilton, QLD 4007, Australia.
Ownership interest
Company name
Company number
Principal activity
OCU Utility Services Limited
02916906
Utility & energy services 100%
NI038813
Utility & energy services 100%
Peter McCormack & Sons Limited 4
ACN 648 761 326 Utility & energy services 60%
Pilecom East Pty Limited 6
ACN 627 355 015 Plant & machinery hire 60%
Pilecom Hire Pty Limited 6
ACN 151 467 506 Utility & energy services 60%
Pilecom Pty Limited 6
Purestream Industries Limited
14075534
Utility & energy services 100%
Purestream Process Solutions Limited
07715931
Utility & energy services 100%
SC028565
Utility & energy services 100%
R.J. McLeod (Contractors) Limited 7
SC044148
Dormant company
100%
Scott-Orr (Contractors) Limited 7
SC017189
Real estate services
100%
Thomas Gebbie & Company Limited 7
Valmech Welding Limited
10014039
Utility & energy services 100%
1. Registered office: 9 Hercules St, Hamilton, QLD 4007, Australia. 2. Registered office: Alliott NZ Ltd (Chartered Accountants), Level 2, 142 Broadway, Newmarket, Auckland, 1023, New Zealand. 3. Registered office: Level 2 Central Building, 426 King Street, Newcastle West NSW 2302, Australia.
4. Registered office: 17 Kilrea Road, Upperlands, Maghera, BT46 5SN, Northern Ireland. 5. Registered office: 12-15 Donegall Square West, Belfast, BT1 6JH, Northern Ireland.
27. Business combinations FY26 acquisitions During the year ended 30 April 2026, the Group made four acquisitions.
6. Registered office: 69B Walters Drive, Osborne Park, WA 6017, Australia. 7. Registered office: 2411 London Road, Glasgow, G32 8XT, Scotland. The companies with registered offices specified above were incorporated in the countries of their respective registered office. The registered office of all companies, apart from those specified above, is Artemis House, 6-8 Greek Street, Stockport, SK3 8AB, England, and were incorporated in England and Wales. The voting rights over every group entity are the same as the ownership interest with the exception of Bam Bam Machinery & Maintenance Pty Limited, Bam Bam Pile Driving NZ Limited and Bam Bam Pile Driving Pty Limited, where voting rights are 60%. 25. Related party disclosures The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the Group. Transactions between Group entities which have been eliminated on consolidation are not disclosed within the financial statements. Information relating to the remuneration of key management personnel is included within note 6.
AEC On 31 July 2025, the Group acquired 60% of the ordinary share capital of All Energy Contracting Investments Pty Limited and All Energy Contracting Pty Limited, along with their wholly owned subsidiaries All Energy Contracting Investments NZ Limited, All Energy Power Infrastructure Pty Limited and All Energy Contracting NZ Limited (together, ‘AEC’). Consideration comprised cash of £43.7m, contingent consideration of up to £17.0m (cash and equity) dependent on EBITDA performance and £19.0m of preference shares issued to the non-controlling shareholder. A put/call option is in place over the remaining 40% of the ordinary share capital, which is exercisable on 31 July 2028 (see note 17 for further details). Headquartered in Brisbane, Australia, AEC is a multidisciplinary contractor specialising in renewables and energy infrastructure across Australia and New Zealand. AEC will serve as a platform for regional growth, enabling the Group to contribute to the ambitious new energy targets of Australia and New Zealand and increasing demand for specialist power infrastructure services. The partnership brings together aligned values and complementary capabilities, accelerating the ability of both organisations to deliver high-quality outcomes for new and existing clients.
Powered by FlippingBook