Antin Infrastructure Partners has agreed a $1.25bn (鈧�1.13bn) to buy Veolia Environnement鈥檚 US district energy business.
Veolia鈥檚 US district energy鈥檚 portfolio comprises steam, hot and chilled water and electricity production plants, including cogeneration, and 13 networks in 10 US cities.
This acquisition is Antin鈥檚 second major investment in the district energy sector after its 2018 acquisition of French integrated operator of energy infrastructure assets Idex.
Alain Rauscher, CEO and managing partner at Antin infrastructure Partners, said: 鈥淭his transaction will be recognised as a classic Antin deal by our investors. We have leveraged our European network to secure an excellent platform business in the US, operating in a field where we have strong experience through our investment in Idex (district energy in France) and a strong track record of creating value in the wider energy sector.鈥�
Kevin Genieser, senior partner at Antin infrastructure Partners who led the transaction, said: 鈥淭his is exactly the sort of transaction that we had in mind when we decided to expand our footprint to the US.
鈥淗aving identified this opportunity over a year ago, we have already built a strong relationship with the management team and we look forward to partnering with them to capture the multiple organic and inorganic growth opportunities that exist for the Company as a standalone business.鈥�
