Arup supports ENGIE on acquisition of UK Power Networks (UKPN)

This transaction represents one of the largest energy deals in UK history, with an enterprise value of £15.8 billion. 

The acquisition comes at a pivotal moment for the UK’s energy transition. Rising electricity demand, distributed renewable generation and increasing electrification will require ongoing investment in electricity networks. 

UKPN serves 8.5 million customers and operates critical national infrastructure across London, the South East and East of England. Arup supported ENGIE across the acquisition process and discussions with UKPN, providing commercial, technical and ESG due diligence through all transaction phases.  

Led by Arup’s Business and Investor Advisory team and supported by subject matter experts, the work was delivered over a five-month period. The commercial analysis focused on total expenditure and incentive revenue of the regulated business and a review of the non-regulated business. Technical and ESG due diligence covered asset performance, management approach and organisational capability that drew on expertise from across the business 

Teddy Spasova, Associate Director, Arup, commented: “We are pleased to have supported ENGIE on the acquisition of UKPN, GB’s largest electricity distribution network operator. The work brought together commercial, technical and ESG expertise from across Arup and reflects the strength of our relationship with ENGIE as well as our experience supporting major transmission and distribution investments in the UK and Europe.”