Utility TXU Corp. has sold its Oncor Utility Solutions consulting and asset management business to UMS Group, a global utility consulting company. Oncor Utility Solutions was formed to provide asset management and other services to utilities in North America. Under the terms of the transaction, UMS Group will assume ownership of all Oncor Utility Solutions contracts. The transaction reflects TXU's continued focus on its core businesses.
UMS Group says the acquisition brings a wealth of new capabilities to its existing and future clients, with asset management outsourcing having the potential to significantly improve return on assets in the utility industry.