Macquarie Lending, which is part of Macquarie Group’s Corporate and Asset Finance Group, has provided “substantial” capital for the expansion of Energetics, a Scottish designer, builder and owner of multi-utility connections and networks.
The investment, the amount of which is unspecified, consists of both senior secured debt and a minority equity stake. The funds will be used to repay debt, finance investment in future network assets and allow the exit of several shareholders from the business.
Established in 2006, Energetics is a multi-utility connections provider based in Hamilton, near Glasgow, with two English offices in Cheshire and Warwickshire.
The firm has a construction subsidiary which designs and builds electricity, gas, water and street lighting networks at residential and commercial property sites. It also has asset-holding subsidiaries, fully licensed to own and operate gas and electricity networks.
Energetics project manages the design-build process from planning to connection, managing all third-party interfaces and legal approvals as well as liaising with land owners over access rights where necessary.
“Having built a significant project pipeline over the years, this transaction lays the foundations to deliver future growth,” said Bill McClymont, chief executive officer of Energetics, in a statement.
In the same statement, Macquarie Lending said this was its 15th deal in Europe over the last year and that it had now made over $20 billion of primary and secondary lending commitments globally since 2009, including $6 billion in Europe.
Macquarie Lending has more than 75 lending and investment professionals based in offices in New York, Chicago, London and Sydney.