The parent company of Manx Gas has been bought by an investment management business based in the City of London.
Ancala Partners LLP has completed its acquisition of 100 per cent of International Energy Group (IEG) for its ‘UK infrastructure platform’.
IEG is a leading natural gas and LPG distribution and supply business located in the Isle of Man, Guernsey and Jersey. IEG has more than 40,000 customers connected to its networks and the head office is in Guernsey.
A spokesman said: ‘Ancala is a long-term infrastructure investor, investing on behalf of pension plans and will invest in IEG to grow the business and ensure existing and future customers benefit from the best possible service, product offering and value for money.’
Spence Clunie, Ancala’s managing partner said: ‘We look forward to working with IEG management to develop and invest in the business for customers.’
Ancala Partners is said to be an established infrastructure investment manager providing enhanced returns for core mid-market infrastructure investments.
It is understood Bermuda-based Brookfield Infrastructure Partners LP were previous owners of IEG. Nobody at ManxGas on South Quay,Douglas,was available for further comment.