Penningtons Manches Cooper advises SOCOTEC UK & Ireland on acquisition of LSTC Group
The corporate team at Penningtons Manches Cooper has advised SOCOTEC, the UK’s leading provider of testing, inspection and compliance services, on its acquisition of LSTC Group, a specialist engineering and asset inspection services provider to the UK’s electrical transmission and distribution network sector.
LSTC Group provides engineering, design, survey and asset inspection services to the UK’s energy infrastructure sector, working with transmission owners, distribution network operators, independent connection providers and project developers. Established in 1954, it brings specialised technical expertise and longstanding client relationships within the regulated energy market. LSTC’s services include overhead line design, surveying, geotechnical and earthing solutions, and infrastructure project support, with revenues well diversified across the UK’s RIIO-regulated market, valued at approximately £2.8 billion for transmission and £4.4 billion for distribution in 2024, and expected to grow through to and beyond 2030.
The acquisition, SOCOTEC UK & Ireland’s 16th since 2017, strengthens its infrastructure and energy platform by enhancing engineering capabilities and expanding its asset inspection offering in a sector critical to the UK’s transmission and distribution investment. It complements SOCOTEC’s existing services, including geotechnical engineering, construction testing, monitoring and surveying, and positions the group to further expand its offering in the power transmission and distribution sector, with LSTC set to play a central role in its UK operations and support growth across critical infrastructure markets through greater scale, technical expertise and integrated service delivery.
The Penningtons Manches Cooper team was led by corporate partner Richard Wrigley. The wider team included sector specialists Edmund Forey and Nora Pook, corporate associate Fars Aziz, tax partner Ollie Gutman, employment specialist Tori Spires, pensions partner Alison Hills, and real estate senior associate Ben Madden.
Jason Goodwin, CFO of SOCOTEC UK & Ireland, says: “Bringing LSTC Group into SOCOTEC marks an important step in strengthening our growth across the UK and Ireland, enhancing our engineering and asset inspection capabilities in the energy infrastructure sector. It reinforces our position in the power transmission and distribution market while creating exciting opportunities to work with LSTC’s expert team and deliver greater value to clients. The team at Penningtons Manches Cooper were an integral part of the acquisition process, once again demonstrating strong expertise and understanding our business and sector.”
Richard Wrigley, partner at Penningtons Manches Cooper adds: “We are delighted to have supported SOCOTEC on this latest acquisition, further strengthening its position in the UK’s energy infrastructure sector. It is a pleasure to continue working alongside the SOCOTEC team as they expand their capabilities and service offering, and we look forward to seeing the opportunities this transaction creates for the combined business.”