Jersey Gas brought out by investment firm Ancala

Tuesday 31 May 2016

The company that owns Jersey and Guernsey gas companies has been brought out by a London-based investment firm.

It has been announced that Ancala Partners LLP (Ancala) has completed its acquisition of 100% of International Energy Group (IEG) on 26th May for its UK Infrastructure Platform.

IEG is a leading natural gas and LPG distribution and supply business that operates here, and in Guernsey and the Isle of Man.

The company has more than 40,000 customers connected to its networks and has been supplying gas in the Channel Islands and the Isle of Man since the 1830s.

In a statement, Ancala described itself as a long-term infrastructure investor, investing on behalf of pension plans.

They say that they will invest in IEG to grow the business.

Spence Clunie, Ancala’s Managing Partner said: “We look forward to working with IEG management to develop and invest in the business for customers."