Infracapital, the infrastructure equity investment arm of M&G Investments, has agreed to acquire the majority stake in U.K. Power Solutions (UKPS), a leading last-mile utility business, from individual shareholders.
Infracapital will assume a 65 percent stake in UKPS, with management shareholders retaining the balance.
“UKPS is an attractive addition to our existing investments in the last-mile utility connections market in line with our strategy of investing in platform businesses for our third brownfield infrastructure fund to deliver value and sustainable growth for our investors,” said Hamza Khan, transaction director at Infracapital.
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. The two businesses will operate independently but alongside each other as part of the Last Mile Infrastructure Group owned by Infracapital.
