New multi-utility operator launched in UK

Two firms have joined forces to launch a new multi-utility operator in the UK. Leep Utilities will provide a platform to invest in and benefit from the growth in independent […]

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By Priyanka Shrestha

Two firms have joined forces to launch a new multi-utility operator in the UK.

Leep Utilities will provide a platform to invest in and benefit from the growth in independent gas, electricity, district heating and water networks.

It is a joint venture between Manchester-based private real estate investment and infrastructure company Peel Group and infrastructure investment manager Ancala Partners.

Under the agreement, the latter firm has bought a 50% share in part of Peel Group’s existing utilities business, which owns and operates a range of private and regulated electricity, water and district heating utility assets.

Peel’s current multi-utility platform has more than 2,000 connections to homes and businesses, including intu Trafford Centre, Liverpool Waters and MediaCityUK.

The new company will provide a platform offering solutions to new residential and commercial developments.

The business is licensed by Ofgem and Ofwat to own and operate electricity and water networks within the group’s portfolio.