Who Are Leep Utilities?
A new joint venture who will provide a platform to invest in and benefit from growth in independent gas, electricity, district heating and water utility networks.
Ancala Partners LLP ('Ancala'), the independent mid-market infrastructure investment manager, and Manchester based, The Peel Group, one of the UK's leading private real estate investment and infrastructure companies, today announced a joint venture to establish an independent multi-utility operator to be named Leep Utilities ('Leep').
Ancala has acquired a 50% share in part of Peel's existing utilities business, which owns and operates a range of private and regulated 'last mile' electricity, water and district heating utility assets. The new entity will provide a platform offering a complete utilities solution to new residential and commercial developments.
Peel's current multi-utility platform has over 2,000 connections to homes and businesses, including MediaCityUK, intu Trafford Centre, Liverpool Waters and Liverpool International Business Park. The business is licensed by Ofgem and Ofwat to own and operate electricity and water networks within the group's portfolio. Leep Utilities will build on these foundations by continuing to provide and expand its offering to Peel developments, whilst bringing much-needed competition in the market for utility connections to new UK commercial and domestic schemes.