SEP sells Indigo Pipelines to Arjun

The deal brings to an end a four-year holding period for SEP, which acquired the business via its Environmental Capital Fund. SEP said in a statement that the sale will generate a "significant return" for its investors.

Under the GP's tenure, Indigo expanded its network of gas connections in the UK market from around 130,000 to around 180,000.

The transaction is scheduled for completion by the end of February 2019.

Previous funding
SEP acquired Indigo (then known as SSE Pipelines) for £52.7m in 2014.

Company
Founded in 1992, Glasgow-headquartered Indigo manages a gas distribution network that owns 180,000 gas connections. According to publicly available documents, Indigo's parent group, Indigo Pipelines Holdco 1, generated a turnover of £16.8m and an operating profit of £5.4m in the year ending in March 2018.

People
Scottish Equity Partners – Gary Le Sueur (partner).
Arjun Infrastructure Partners – Surinder Toor (founding partner).

Advisers
Vendor – Evercore Partners (corporate finance); Dentons (legal).
Acquirer – RBC Capital Markets (corporate finance); CMS (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• UK / Ireland
• Industrials
• United Kingdom
• Scottish Equity Partners
• Dentons
• CMS Cameron McKenna