Latest news with #Macquarie-managed
Yahoo
04-04-2025
- Business
- Yahoo
Aussie giant Macquarie swoops for Metcor in £100m deal
Macquarie, the Australian financial giant, has struck its latest British takeover deal with a swoop on Metcor Group, a provider of drainage and maintenance services to commercial customers. Sky News understands that Macquarie Capital, which invests from its parent's own balance sheet, has agreed a deal with Metcor's founders. The transaction is said to value the target at about £100m. Metcor comprises three companies: an environmental arm specialising in drainage maintenance and remediation; Anglo Pumps, which maintains and installs pumps, motors and fans; and Aylesford Electrical, which provides electrical services for commercial properties. An industry source said that corporate financiers had been advising Metcor on its options, including talks with several prospective investors. The deal adds it to a UK portfolio owned by Macquarie Capital which includes Matrix Networks Group, a provider of specialist utility infrastructure, and Zenzero, which offers IT managed services to SMEs. More broadly, Macquarie is among Britain's biggest inward investors, with funds managed by the firm ranking as the largest shareholder in financially troubled Southern Water. The water group is in the middle of a major fundraising which includes a large capital injection from Macquarie-managed funds. The Australian group also, controversially, owned Thames Water, which is now engaged in a protracted battle to avoid temporary nationalisation. Macquarie declined to comment.
Sky News
04-04-2025
- Business
- Sky News
Aussie giant Macquarie swoops for Metcor in £100m deal
Macquarie, the Australian financial giant, has struck its latest British takeover deal with a swoop on Metcor Group, a provider of drainage and maintenance services to commercial customers. Sky News understands that Macquarie Capital, which invests from its parent's own balance sheet, has agreed a deal with Metcor's founders. The transaction is said to value the target at about £100m. Metcor comprises three companies: an environmental arm specialising in drainage maintenance and remediation; Anglo Pumps, which maintains and installs pumps, motors and fans; and Aylesford Electrical, which provides electrical services for commercial properties. An industry source said that corporate financiers had been advising Metcor on its options, including talks with several prospective investors. The deal adds it to a UK portfolio owned by Macquarie Capital which includes Matrix Networks Group, a provider of specialist utility infrastructure, and Zenzero, which offers IT managed services to SMEs. More broadly, Macquarie is among Britain's biggest inward investors, with funds managed by the firm ranking as the largest shareholder in financially troubled Southern Water. The water group is in the middle of a major fundraising which includes a large capital injection from Macquarie-managed funds. The Australian group also, controversially, owned Thames Water, which is now engaged in a protracted battle to avoid temporary nationalisation. Macquarie declined to comment.
Yahoo
21-03-2025
- Business
- Yahoo
Australia greenlights Vocus' takeover of TPG Telecom's fibre, fixed assets
By Rishav Chatterjee and Aaditya GovindRao (Reuters) -Macquarie-backed fibre network Vocus Group is closer to becoming one of Australia's largest owners of underground fibre infrastructure, as the competition regulator approved on Thursday its A$5.25 billion (about $3.3 billion) deal with TPG Telecom. Vocus and TPG, back in October 2024, had agreed to a deal for the former to take over the telecom operator's fibre and fixed network infrastructure assets, enabling Vocus to connect almost 20,000 buildings in Australia. The Australian Competition and Consumer Commission (ACCC) said the deal would not likely result in a substantial reduction of competition in any market. It said that Vocus would continue to face major competition from firms — including Telstra, Singapore Telecommunications-owned Optus — and local players such as Superloop and Aussie Broadband A spokesperson for Vocus said that the ACCC's decision was a positive step, and TPG's complementary assets will allow Vocus to drive competition into the sector. Analysts at Sandstone Insights called the clearance a major turning point for TPG, which resets its balance sheet. "With lower interest costs, a declining opex profile and lower capex requirements, TPG is poised for substantial free cash flow growth for the next 3-4 years," the analysts said. Shares in TPG gained 5% in Sydney, while those of its biggest rival Telstra were up 0.9%. The deal remains subject to Foreign Investment Review Board approval and U.S. regulatory approvals, TPG said. The Australian watchdog's review focused on how closely Vocus and TPG compete in the supply of data network and connectivity services, including fixed-line internet services, to large enterprise and government customers, it said in a statement. The probe found that Vocus focuses on providing services to large enterprise and government clients while TPG concentrates on the small and medium enterprise segment of the market. A Macquarie-managed infrastructure fund, alongside Aware Super, acquired Vocus in 2021, taking the company private and delisting it. ($1 = 1.5721 Australian dollars)
