Infracapital is selling a 50 percent stake in Last Mile Infrastructure (LMI), one of the United Kingdom’s largest Independent Network Owners and a leading last-mile multi-utility business, to Macquarie Asset Management (MAM). Financial terms were not disclosed.
LMI designs, installs, owns and operates electricity, gas, water and wastewater networks, as well as provides smart meters to new-build properties. Under Infracapital’s ownership, LMI has grown its portfolio by more than 400,000 connections and expanded its order book by 550,000 electricity, gas, water and wastewater connections. In addition, it has enhanced its nationwide presence and added further capabilities in water, wastewater and sustainable heating.
Macquarie Capital, a global financial services company and part of Macquarie Group, previously owned LMI, which was formerly Energetics, between 2013 and 2018. The latest transaction was made via Macquarie European Infrastructure Fund 7, a 2022 vintage in