Kelda Group plc, previously named Yorkshire Water plc, was originally formed following water company privatisations in 1989. Kelda has developed significantly since then and is well respected in the UK for the high quality water and waste water services which are provided to its customers.
Yorkshire Water plc formed as part of water company privatisation.
Mid to late 1990s
A range of environmental service companies are acquired as part of the diversification strategy.
Yorkshire Water plc sells its Yorkshire-based waste company to Waste Recycling Group plc (WRG) and gains a 46% stake in WRG in return.
Yorkshire Water plc changes its name to Kelda Group plc following a special resolution which is passed on 3 August 1999.
In January, Kelda acquires the US water utility Aquarion.
In April 2000, the Board announces a wide ranging review of the company's strategy and group structure. The conclusions of this review are to focus on water and waste water operations and to dispose of its interests in environmental service and renewable energy businesses.
Following the strategic review Kelda disposes of Alcontrol, White Rose Environmental and Kelda's interests in the White Rose Centre. Subsequently the group sells its interests in renewable energy businesses.
Aquarion, the US business, completes the acquisition of five American Water Works subsidiaries (this intention to acquire had been announced in August 2001). This acquisition increases the size of Kelda's US interests by approximately 50%.
In December, a consortium led by Yorkshire Water, Brey Utilities, signed a contract to run water and waste water operations for the Ministry of Defence (MoD). The contract operations go live in December 2003.
Kelda sells its stake in WRG to Terra Firma and starts a programme to return to its shareholders up to approximately £74 million of the proceeds from its stake in the sale of WRG, by means of an on-market share buyback.
Kelda creates Kelda Water Services to provide a distinct identity for and management focus on securing third party contract operations.
Kelda Water Services signs a 15 year, £700m contract to operate and maintain waste water treatment and operations for Dwr Cymru (Welsh Water) in South Wales.
Kelda announces the conditional sale of its US business Aquarion.
Kelda sells its US business Aquarion to a consortium led by Macquarie Bank and makes a capital return to shareholders of £750m.
The Kelda Group was de-listed from the London Stock Exchange on 12 February 2008, following its acquisition by the global infrastructure fund, Saltaire Water.
In September Kelda Group announced the launch of a new player in the non-household water market called Three Sixty.
Kelda announces strategy to dispose non-regulated businesses owned by Kelda Water Services and to remove Cayman Islands companies for greater transparency of financing arrangements.
New UK domiciled financing company established to take on debt issued by Cayman Islands companies, which are then transferred to Kelda Group for liquidation.
Kelda completes the sale of its last non-regulated Kelda Water Services’ business.
Yorkshire Water launches its Sustainable Finance Framework and successfully issues its first sustainability bond in the London market.
Kelda announces sale of non-household retail customer portfolio to Business Stream (Scottish Water).
Formal dissolution of Cayman Islands incorporated financing companies.