Alinda buys UK water company

A subsidiary of the Connecticut-based investor has purchased Cambridge Water, which serves 310,000 people in the UK and has close to £62m of assets. The acquisition includes Cambridge Water’s regulated and non-regulated activities.

UK utility South Staffordshire Water, a wholly-owned subsidiary of Connecticut-based infrastructure firm Alinda Capital Partners, has acquired Cambridge Water, a utility supplying water and other services to Cambridge, UK.

Cambridge Water supplies water to 310,000 people in Cambridge and the surrounding areas and is roughly a quarter of the size of South Staffordshire Water. British bank HSBC was the seller. Both parties declined to comment on the purchase price. 

According to HSBC, Cambridge Water, founded in 1853, had audited gross assets of close to £62 million (€72 million; $111 million) as at December 31, 2010. The acquisition includes Cambridge Water’s regulated and non-regulated activities.

Since Alinda will now own two water utilities in the UK, the acquisition of Cambridge Water will now be referred to the Competition Commission, which should take about six months to rule on the purchase.

In July, Alinda bought InterPark Holdings – a Chicago-based parking manager – from GE Capital Real Estate. InterPark owns $1 billion in parking assets across 16 markets, generates more than $200 million in annual parking revenues and employs a staff of 1,000.

Alinda, which closed its first fund on $3 billion in June 2007 and its second fund on $4.1 billion in January 2010, holds investments across several sectors, including roads, telecommunications, wastewater and natural gas distribution assets.

The firm has also reportedly been in recent talks with Spanish infrastructure group Ferrovial to acquire a 10 percent stake in UK airports operator BAA, in which it already owned a minority stake.