Venture capital firm Scottish Equity Partners (SEP) has sold gas transportation company Indigo Pipelines to UK-based Arjun Infrastructure Partners.
The sale, for which financial terms have not been disclosed, is expected to be completed by the end of February 2019, pending regulatory approval.
Indigo, which was established in 1992, is currently the third largest independent gas transportation network in the UK and was acquired by SEP’s infrastructure investment vehicle Environmental Capital Fund in 2014 for £52.7 million (€60.2 million).
Gary Le Sueur, partner at Glasgow-based SEP said that the proposed sale “will provide a significant return to our investors”.
Meanwhile, founding partner of Arjun, Surinder Toor, said the deal “represents an exciting investment opportunity for our investors”.
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