Ancala and Peel Group Unveils independent Multi-utility Operator

Ancala and Peel Group Unveils independent Multi-utility Operator
15.05.2017 01:30 pm

Ancala and Peel Group Unveils independent Multi-utility Operator

Investment Management

Ancala Partners LLP (‘Ancala’), the independent mid-market infrastructure investment manager, and The Peel Group, one of the UK’s leading private real estate investment and infrastructure companies, today announced a joint venture to establish an independent multi-utility operator to be named Leep Utilities (‘Leep’).

Ancala has acquired a 50% share in part of Peel’s existing utilities business, which owns and operates a range of private and regulated ‘last mile’ electricity, water and district heating utility assets. The new entity will provide a platform offering a complete utilities solution to new residential and commercial developments.

Peel’s current multi-utility platform has over 2,000 connections to homes and businesses, including MediaCityUK, intu Trafford Centre, Liverpool Waters and Liverpool International Business Park.  The business is licensed by Ofgem and Ofwat to own and operate electricity and water networks within the group’s portfolio.  Leep Utilities will build on these foundations by continuing to provide and expand its offering to Peel developments, whilst bringing much-needed competition in the market for utility connections to new UK commercial and domestic schemes. 

Spence Clunie, Managing Partner, Ancala Partners LLP, commented:

“Peel has a high quality utilities team in place that has been backed by The Peel Group, one of the foremost real estate enterprises in the U.K. This team will be augmented by the deep utilities and investment experience that exists in Ancala.  This is another example of how we proactively source platforms that add value for our investors.”

Steven Underwood, Chief Executive, The Peel Group, said:

“We are delighted to have reached agreement with Ancala Partners on the creation of Leep Utilities.  The launch of this exciting new venture is directly aligned with our strategy of securing high-quality partners to invest alongside Peel for long-term growth and to enhance the prospects for our key infrastructure and real estate investments.”

David Glover, Operations Director, The Peel Group, and Chairman of Peel Utilities, added:

“Our utilities team have worked incredibly hard to establish a strong position in the marketplace.  This partnership with Ancala now offers exciting opportunities for the future which will build on our achievements to date.”     

Related News

Triple Point launches rapid turnaround investment initiative for start-ups

Triple Point today announces a rapid turnaround investment initiative to help new start-ups launch, in recognition of the role innovation and technology will... Read more »

British Business Investments commits up to £40m to Columbia Lake Partners UK LLP’s second fund

British Business Investments Ltd announces a commitment of up to £40m to Columbia Lake Partners Fund II CLP Growth II GBP... Read more »

Amdaris receives £6m investment from BGF

BGF has invested £6m in Amdaris, an industry-leading software developer and digital transformation specialist, to support its organic and... Read more »

Tink extends Open Banking support for PayPal and receives strategic investment

Tink will now support PayPal (NASDAQ: PYPL) across Europe as it leverages opportunities with PSD2 and open banking. This extended work... Read more »

Siebert Financial Corp. teams up with InvestCloud to lead digital transformation

Siebert, a leading national broker-dealer and provider of financial services, has appointed InvestCloud to design and implement its complete digital transformation.

Read more »

3K Investment Partners selected Axia to advance its Fund & Asset Management operations

Profile Software, a leading financial solutions provider, announced today that 3K Investment Partners, a Mutual Funds... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel