Venture capital group Scottish Equity Partners has agreed to sell a pipelines business set up by Perth-based power giant SSE more than two decades ago.
Indigo Pipelines is being sold to infrastructure asset manager Arjun Infrastructure Partners for an undisclosed sum. The transaction is expected to complete by the end of February.
Indigo is the third largest independent gas transportation network in the UK owning some 180,000 gas connections. The company was established in 1992 by SSE as SSE Pipelines.
In 2014, Indigo was acquired by the Environmental Capital Fund, which is managed by SEP. Under SEP’s ownership, the business has continued to rapidly grow its network of connections throughout the UK.
Gary Le Sueur, a partner at SEP, said: “Over the course of the last few years, we have developed Indigo into a high quality and successful business. The proposed transaction will provide a significant return to our investors.”