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Bids, Mergers and Takeovers

3i Infrastructure to acquire Infinis

31 October 2016 07:15

3i Infrastructure has signed an agreement to invest approximately £185m to acquire 100% of Infinis plc and its subsidiaries which together own the landfill gas interests of the Infinis Group.

Infinis is the leading generator of electricity from LFG in the UK.

LFG is a naturally occurring product resulting from the decomposition of organic matter in landfill sites.

By extracting LFG from landfill sites, Infinis fulfils an important role in helping waste management companies meet their environmental compliance obligations.

As Infinis uses the collected LFG to generate power, it not only abates the global warming impact of the methane emissions but also provides an efficient and secure source of power generation to local communities.

As at 30 June, Infinis had 121 operating sites and 7 outsourced sites geographically dispersed across the UK and had power generation installed capacity of over 300MW at its sites.

3i Infrastructure is purchasing Infinis from the Infinis Group, one of the UK's largest generators of renewable electricity and in addition to the LFG electricity business, includes onshore wind.

The Infinis Group is 100% owned by funds managed by Terra Firma, a leading European private equity firm.

On completion of this acquisition 3i Infrastructure will have invested all of the cash from its capital raise in June 2016.

3i Infrastructure continues to maintain an efficient balance sheet, with a good level of ongoing liquidity through its Revolving Credit Facility.

Completion is anticipated to take place by the end of November.

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Related Company: 3IN

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