Terra Firma in partial exit from Phoenix Group

The sale process is expected to complete in the summer of 2012. Phoenix will continue to focus on investing and growing its core business, Phoenix Natural Gas, which operates the Greater Belfast natural gas network.

Previous funding
Terra Firma acquired the Phoenix group as part of the East Surrey Holdings group of companies in 2005. The deal was valued at £453m, with Barclays and Citigroup underwriting the debt element.

In 2006, the GP sold parts of East Surrey Holdings to ABN AMRO Infrastructure Capital Equity and Deutsche Bank, holding onto Phoenix.

Company
Established in 1996, Phoenix Group is a provider of natural gas based in Northern Ireland. Phoenix Supply was set up as a stand-alone subsidiary in 2007; it is the regulated supplier of natural gas to around 130,000 domestic and business customers in Greater Belfast.

People
Peter Dixon is CEO of Phoenix Group.

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

• Topics
• UK / Ireland
• Exits
• Now researching
• Industrials
• Terra Firma
• Partial sale