Infracapital to acquire controlling stakes in UKPS

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Infracapital, the infrastructure equity investment arm of M&G Prudential, has agreed to acquire a controlling equity stake in UK Power Solutions (UKPS), a leading ‘last mile’ utility business, from individual shareholders including management. 

UKPS designs and builds ‘last mile‘ electricity, gas and water networks, connecting end customers to the relevant upstream distribution utility‘s network. Its dedicated teams of experienced engineers manage projects from the initial customer inquiry, through to design, construction, energization and the final adoption of the network. Since 2007, UKPS has grown to become one of the UK’s leading multi-utility connections providers for new build residential, high rise, commercial and retail projects, with an order book in excess of 120k connections. The business has a particularly strong presence in the South and Midland regions of England.

The acquisition follows Infracapital‘s October 2018 investment in last-mile electricity, gas and water connections business, Energetics, which has a strong presence in Scotland and the North of England and an order book in excess of 200k connections. The two businesses will operate independently but alongside each other as part of the Last Mile Infrastructure Group owned by Infracapital.

The Last Mile Infrastructure Group is one of the UK’s largest Independent Network Owners, owning and operating in excess of 300k gas and electricity connections servicing residential and commercial customers. The management team has plans to significantly grow the business and UKPS is expected to make an important contribution.  

Infracapital will take a 65% stake in UKPS, with management shareholders retaining the balance. 

PwC Corporate Finance acted as financial adviser to Infracapital on the transaction.

List of the country updates

Country updates

  • October 02, 2019

    ConocoPhillips concludes sale of UK E&P subsidiaries

    Chrysaor Holdings Limited has completed its acquisition of ConocoPhillips’ UK oil and gas business for US$2.675 billion. With an effective date of 1 January 2018, completion of the transaction f...

    Read more
  • October 01, 2019

    INPP confirms 'oversubscribed' placing

    International Public Partnerships Limited (INPP) has closed the launched placing, raising GBP116.5 million (US$143.266 million) before costs and expenses through the issue of 75,649,350 ordinary...

    Read more
  • October 01, 2019

    Falck signs PPA with Shell Energy for 67.5 MW Kilbraur wind park in UK

    Falck Renewables S.p.A., through its subsidiary Kilbraur Wind Energy Ltd., has signed a Power Purchase Agreement to sell all the electricity of its Kilbraur wind farm (UK) to Shell Energy Europe Ltd....

    Read more
  • September 30, 2019

    Ørsted invests in Limpet Technology's Pict Offshore in UK

    Ørsted has acquired a 22.5% share in Pict Offshore, the Scottish developer of an innovative technology set to transform the way technicians access offshore wind turbines. The Get Up Safe (GUS)...

    Read more
  • September 27, 2019

    714MW offshore wind farm in UK starts generating first power

    Iberdrola has connected the East Anglia ONE offshore wind farm to the British electricity grid. With an installed capacity of 714 MW, it will be the largest offshore wind farm in the world, after comi...

    Read more

Share this update