Leep Utilities, a leading owner and operator of regulated and non-regulated last-mile utility networks in the UK, has acquired ThamesWey Central Milton Keynes Ltd (TCMK) from parent company ThamesWey Energy Ltd.
Set up in 2007, TCMK provides a district heating and electricity network to domestic and business customers in central Milton Keynes. This includes mixed-use developments such as The Hub and Vizion, as well as The Pinnacle, the largest office development in Milton Keynes. TCMK’s network also has the capacity to supply electricity and heat to a new residential area in west-central Milton Keynes.
Leep Utilities is a recognised partner for developers, landowners and project managers for residential, commercial, data centre and mixed-use developments, providing network adoption for electricity, water, wastewater and heat networks. Leep has worked on a number of highly successful mixed-use masterplans and utilities projects covering hundreds of acres and customers, including London’s Battersea Power Station, Canada Water in the London Docklands, and MediaCityUK in Manchester.
TCMK, via its parent company, ThamesWey Energy, was 100% owned by Woking Borough Council. The sale of TCMK now comes as the focus of the Council and ThamesWey Energy moves onto its assets more geographically close to Woking.
Lee Kitchen, deputy CEO at Leep, said, “TCMK joins our growing portfolio of last-mile utility networks, which already serve more than 200,000 contracted heat, electricity and water connections – the acquisition is part of our strategy to build on our market-leading position. Like many of the other networks we manage across the UK, TCMK’s energy centre and utilities networks are a valuable part of the local infrastructure, serving a variety of mixed-use developments with sustainable, lower carbon utilities services. We’re looking forward to improving this site; we also continue to actively seek other networks that would benefit from our expertise.”
Jeff Whittingham, ThamesWey Energy Ltd said: “We’re pleased to confirm the sale of ThamesWey Central Milton Keynes Ltd. There are benefits for both parties, with the divestment marking a rationalisation of our assets and a re-focus on local services. The existing customer base will be well-served by the new owners, who will safeguard the network by investing in further growth.”
ThamesWey Energy Ltd. operations will continue to operate the network for Woking Town Centre.
Leep has more than 200,000 contracted connections, a rapidly growing asset base and long-term relationships with leading housebuilders, developers and local authorities. The acquisition comes at an exciting time for Leep, as the business continues its growth as a leading national multi-utility platform across the UK.
