M&A Deal Summary

Astatine Investment Partners Acquires NRG Riverside

On April 24, 2024, infrastructure investor Astatine Investment Partners acquired business services company NRG Riverside from Palatine Private Equity

Acquisition Highlights
  • This is Astatine Investment Partners’ 5th transaction in the Business Services sector.
  • This is Astatine Investment Partners’ 5th transaction in the United Kingdom.

M&A Deal Summary

Date 2024-04-24
Target NRG Riverside
Sector Business Services
Buyer(s) Astatine Investment Partners
Sellers(s) Palatine Private Equity
Deal Type Secondary Buyout

Target

NRG Riverside

Lancashire, United Kingdom
NRG Riverside is a rental provider of specialist waste collection vehicles serving communities in the UK directly and indirectly in providing waste collection vehicles under long-term contracts and on a rental basis. The Company has an integrated offering of lease or rental of vehicles, repair and maintenance, and regulatory compliance services, which is highly valued by customers and generates high levels of contract renewals and recurring revenues. NRG Riverside was formed in 1996 and is based in Lancashire, United Kingdom.

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Buyer(S) 1

Buyer

Astatine Investment Partners

Greenwich, Connecticut, United States

Category Infrastructure
Founded 2005
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Astatine Investment Partners is a private investment firm specializing in the acquisition of infrastructure assets in North America and Europe. Astatine Investment Partners looks for assets with predictable cash flows, strategic competitive advantages, and limited commodity or merchant risk. Specific sectors of interest include roads, bridges and tunnels; airports, ports and rail; water supply and wastewater treatment; gas transportation, storage and distribution; power generation and electric transmission; and utility services for residential, commercial and industrial customers. Astatine Investment Partners was formed in 2005 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 24 of 24
Sector: Business Services M&A 5 of 5
Type: Secondary Buyout M&A Deals 11 of 11
Country: United Kingdom M&A 5 of 5
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-03 McKeil

Burlington, Ontario, Canada

McKeil is a marine transportation company delivering turnkey solutions to customers with a wide range of transportation and project requirements. McKeil was founded in 1956 and is based in Burlington, Ontario.

Buy -

Seller(S) 1

SELLER

Palatine Private Equity

Manchester, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 570M GBP
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Palatine Private Equity is a UK based private equity firm focused on investing in businesses valued up to £50 million. The Firm generally looks to fund profitable, cash-generative companies with strong management teams and established market positions, however, Palatine will also consider turnaround situations. Target sectors include retail/leisure, business outsourcing, financial services, healthcare, and niche manufacturing. Prospective transaction types include management buyouts/buy-ins, consolidations, growth capital financings, and restructurings. Palatine was originally formed as Zeus Private Equity in 2005. The Firm has offices in Bristol, Manchester, and London.


DEAL STATS #
Overall 24 of 26
Sector: Business Services M&A 4 of 4
Type: Secondary Buyout M&A Deals 13 of 15
Country: United Kingdom M&A 24 of 26
Year: 2024 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-29 Isle Utilities

London, United Kingdom

Isle Utilities is a specialized technology and innovation consultancy focused on the water, energy, and environmental sectors, helping customers identify, evaluate, and implement innovative technologies. Isle Utilities is based in London.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-19 DTM

Blackpool, United Kingdom

DTM is an independent tyre management company formed specifically to work with customers giving them a real choice of brand and service provider. Typically the service demands of customers in today's market are numerous; therefore invariably the requirement to use numerous different options exists but is too complex and time-consuming for the customer to manage. DTM was founded in 2004 and is based in Blackpool, United Kingdom.

Sell -