Macquarie Asset Management to acquire Energy Assets Group

Macquarie Asset Management has announced that its managed funds have entered into an agreement to acquire 100 per cent of Energy Assets Group from Asterion Industrial Partners, EDF Invest and Swiss Life Asset Managers.

Energy Assets Group (EAG) manages a portfolio of 1.8 million advanced and smart meters. EAG also installs, owns and operates last-mile utility connections, primarily serving industrial and commercial customers. It currently owns 148,000 grid connections, plus a contracted orderbook where it will invest to build new connections across the UK. As such, EAG supports UK Government growth targets for new homes and businesses facilitating them to connect to a modern energy system.

Founded and headquartered in Scotland in 2005 and employing approximately 600 people, EAG has offices across England, Scotland and Wales.

Will Price, Head of Utilities and Networks in EMEA for Macquarie Asset Management, said: “EAG owns and operates long-term energy infrastructure across smart meters and last-mile utility connections. We look forward to supporting EAG as it continues to grow, facilitating the UK’s growth and energy transition agendas.”

Macquarie Group has operated in the UK for more than 35 years and has invested and arranged more than £65 billion in UK infrastructure since 1999. Funds managed by Macquarie Asset Management are also invested in energy network infrastructure in the UK, namely stakes in National Gas, the gas transmission system owner and operator in Great Britain, and Cadent Gas, Britain’s largest gas distribution network.

The transaction is expected to reach financial close in 2026, following the satisfaction of customary closing conditions and regulatory approvals.