Morrison Utility Services has appointed a new chief executive and chairman following the firm’s acquisition by US investment firm First Reserve.
Jim Arnold has been appointed as chief executive and Charles Morrison as chairman with immediate effect.
Mr Arnold has spent 17 years with the business in various roles including executive director and chief operating officer.
Mr Morrison said: “I am convinced that Jim is ideally placed to lead the business through the next phase of our growth and I very much look forward to maintaining our close working relationship in order to achieve our business goals.”
First Reserve acquired MUS from Bregal Capital and Motion Equity Partners, which bought the company from Anglian Water Group in March 2008.
The deal will be completed by November, subject to European Commission antitrust approval.
First Reserve has completed nearly 600 transactions and is among the world’s largest energy-focused private equity funds.