PwC Corporate Finance advises on the sale of IEI’s stake in Merseyside Energy Recovery Holding Limited
The UK Lead Advisory team is pleased to announce it acted as lead financial advisor to I-Environment Investments Limited (“IEI”) on the sale of its equity and subordinated debt interests in Merseyside Energy Recovery Holding Limited (“MERHL”) to Semperian PPP Investment Partners No.2 Limited (“Semperian”).
MERHL’s wholly owned subsidiary Merseyside Energy Recovery Limited holds a PFI contract with the Merseyside Recycling and Waste Authority, owns and operates an energy from waste plant located at Wilton in the Tees Valley and a transfer loading station in Knowsley, Merseyside. The EfW plant processes over 460 ktpa of waste and supplies both heat and power to nearby industrial users.
IEI is a wholly owned subsidiary of ITOCHU Corporation, involved in development, M&A and asset management of companies / assets in the EMEA’s environment and renewable sector.
Semperian PPP Investment Partners Group Limited (“Semperian”) a UK company launched in October 2007, with the aim of investing in UK Social Infrastructure, providing essential public services to local communities. The company has been established to give investors access to a large, diversified portfolio of mature Public Private Partnership (PPP) concession based investments.
The engagement team was led by Matt Denmark and Dipti Bhudia, supported by Chloe Saunders.
PwC acted as lead financial adviser and the deal adds to our extensive experience in the environmental services and wider energy transition market. If you would like to discuss our experience or the market, please contact Matt Denmark or Dipti Bhudia.
“We are delighted to have advised IEI on the divestment of their minority shareholding in MERHL to Semperian. This transaction highlights the continued appetite of investors to acquire high quality assets in the energy from waste and wider environmental services sector.”
