Macquarie Asset Management has agreed to acquire the remaining 50% stake in Last Mile Infrastructure, gaining full ownership of the utility connections provider essential for supporting the UK government's housing targets.

Target Company Overview

Macquarie Asset Management (MAM) has signed a binding agreement to acquire an additional 50% stake in Last Mile Infrastructure from Infracapital, thereby increasing MAM's ownership to 100%. Established in Scotland in 2002, Last Mile Infrastructure employs approximately 800 individuals and specializes in the installation, ownership, and operation of last-mile utility connections throughout the United Kingdom. This initiative aligns with the UK government's objective of constructing 1.5 million new homes by 2029 and also facilitates utility connections for both industrial and commercial properties.

Since the initial investment agreement between MAM and Infracapital in 2023, Last Mile Infrastructure has successfully expanded its utility connections from 675,000 to 930,000, demonstrating significant growth and operational maturity.

Industry Overview in the UK

The UK utilities sector plays a crucial role in supporting both residential and commercial infrastructure, particularly given the increasing demand for energy due to population growth and urban