Divestiture • Utilities

Antin Infrastructure Partners Acquires Vicinity Energy

On July 31, 2019, infrastructure investor Antin Infrastructure Partners acquired utilities company Vicinity Energy from Veolia Environnement for 125M USD

Acquisition Context
  • This is Antin Infrastructure Partners’ 1st transaction in the Utilities sector.
  • This is Antin Infrastructure Partners’ 4th largest (disclosed) transaction.
  • This is Antin Infrastructure Partners’ 2nd transaction in the United States.
  • This is Antin Infrastructure Partners’ 1st transaction in Massachusetts.

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M&A Deal Summary

Date July 31, 2019
Target Vicinity Energy
Sector Utilities
Buyer(s) Antin Infrastructure Partners
Sellers(s) Veolia Environnement
Deal Type Divestiture
Deal Value 125M USD

Target Company

Vicinity Energy

Boston, Massachusetts, United States
Vicinity Energy is an alternative, owning and operating some of the most efficient large generators within their respective energy grids and, through its ownership and operation of over 400 megawatts (MW) of combined heat and power (CHP) production, currently supplies district energy and related services to more than 210 million square feet of building space. Vicinity Energy is based in Boston, Massachusetts.
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Buyer Overview 1

Buyer

Antin Infrastructure Partners

Paris, France

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2007
PE ASSETS 31.0B EUR
Size Mega
Type Sector Focused
DESCRIPTION

Antin Infrastructure Partners is an infrastructure investment firm focused on opportunities throughout the Europe. Antin looks for assets with low technology risk and limited operating risk. Specific areas of interest include transportation (toll roads, airports, ports, car parks), energy/environment (gas storage, LNG terminals, energy transmission, distribution, water infrastructure, waste management), and telecom (GSM towers, ADSL networks, broadcast networks, cable networks, and satellites). The lead sponsor of Antin is BNP Paribas. Antin Infrastructure Partners was established in 2007 and is based in Paris.


Deal Context for Buyer #
Overall 24 of 42
Sector: Utilities 1 of 3
Type: Divestiture 6 of 8
State: Massachusetts 1 of 1
Country: United States 2 of 7
Year: 2019 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-28 Euroports

Kallo, Belgium

Euroports operates 20 terminals throughout continental Europe handling over 50 million tonnes of diversified bulk commodities. It is a top 10 European port operator and believed to be the most diversified in terms of products and regions served. Euroports was founded in 2006 and is based in Kallo, Belgium.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-10 Kellas Midstream

Aberdeen, United Kingdom

Kellas Midstream is a midstream infrastructure business in the UK which transports gas from the Central and Southern North Sea areas to the UK, where it is then processed on behalf of major North Sea gas producers. Kellas Midstream is based in Aberdeen, United Kingdom.

Sell -

Seller Profile 1

SELLER

Veolia Environnement

Paris, France

Category Company
Founded 1853
Sector Consumer Services
Employees202,332
Revenue 44.7B EUR (2024)
DESCRIPTION

Veolia Environnement provides industrial cleaning, mechanical and maintenance services, and environmental waste management solutions. Veolia Environnement was founded in 1853 and is based in Paris, France.


Deal Context for Seller #
Overall 5 of 6
Sector: Utilities 2 of 2
Type: Divestiture 5 of 6
State: Massachusetts 1 of 1
Country: United States 4 of 4
Year: 2019 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-04 Elliott Holdings Pty.

Cohuna, Australia

Elliott Holdings (Aust.) Pty. Ltd. (dba Ellwaste Waste and Recycling Services) is a regional waste management business servicing rural New South Wales and Victoria. Ellwaste Waste and Recycling Services was established in 1984 and is headquartered in Cohuna, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-18 Suez S.A. - OSIS Business

Paris, France

Suez S.A. - OSIS Business is a multi-specialist in sewerage services. OSIS operates complementary business segments: sewerage and liquid waste collection, industrial cleaning, and building hygiene.

Buy €298M