A fund managed by 3i Group plc (“3i”) has today taken ownership of ESP Utilities Group Limited. 3i is a leading international investment manager focused on mid-market private equity and infrastructure. Its head office is based in London and its core investment markets are northern Europe and North America.
The acquisition was first announced in December 2016 as part of a wider transaction for the fund to acquire a portfolio of assets, including ESP Utilities Group, owned by the EISER Global Infrastructure Fund. That transaction was subject to a number of conditions including approval from the European Commission under the EU Merger Regulation, which have now been achieved. The EISER Global Infrastructure Fund has owned the Utilities company since 2006.
Robert Wallace, Managing Director of ESP Utilities Group, said:
This is exciting news for our business and the arrival of 3i will allow ESP to continue its growth within the utilities industry and also provide opportunities to further develop the business.