European banks back £690m refinancing for energy group
The Energy Assets Group, UK leaders in multi-utility metering, data analytics and network construction, ownership and operation, have completed a £690 million refinancing package, including £185 million of Capex facilities.
With Northampton operations, the business has been supported by shareholders Asterion Industrial Partners, EDF Invest and Swiss Life Asset Management AG throughout the process.
The arrangement will help the group expand its services across core markets and build on the success of its vertically integrated business model.
The group works with major energy suppliers and partners with the UK’s biggest brands, housebuilders, third parties and public sector bodies, providing an end-to-end, multi-utility service – using groundbreaking technology, data analytics and innovative processes.
Over the last 16 years, the Energy Assets Group has grown from an owner and operator of gas meter assets into one of the most dynamic energy services businesses in Britain, thanks to a strategy of organic growth, smart acquisition, diversification and market innovation.
The refinancing package has been arranged and fully underwritten by a consortium of four leading European Banks: Banco Santander, Intesa Sanpaolo, Lloyds Bank plc and Natwest Markets.