Centrus acts as the financial advisor for NWEN (UK) on its investment into one of the largest private wire networks in the UK

Transaction overview

Centrus’ client, North West Electricity Networks (UK) Limited (“NWEN (UK)”), NWEN (UK) is an electricity company based in Manchester, England focused on the design, construction, and operation of electricity networks. NWEN (UK)’s wholly owned subsidiary, Electricity North West (Construction and Maintenance) Limited, provides design, construction, control, operations, and maintenance services to private electricity infrastructure owners. Another wholly owned subsidiary of NWEN (UK) is Electricity North West Limited, the licensed distribution network operator for the North West of England, including Greater Manchester, Lancashire, and Cumbria.    

NWEN (UK) has committed to invest an initial £40m to enable the upgrade and expansion of the private electricity distribution network (“PDN”) to service existing and future tenants. When complete, it is expected to be one of the largest PDN’s in the UK. 

This opportunity is a flagship transaction for NWEN (UK), cementing it as a leading provider of private infrastructure-as-a-service solutions. 

Centrus’ solution

Centrus acted as both the financial and commercial advisor to NWEN (UK) which included: 

• Identifying an appropriate capital commitment structure and valuation methodology for the new joint venture. 
• Assisting NWEN (UK) in the design and preparation of key due diligence workstreams to support the acquisition and joint venture agreements. 
• Comprehensive support of the commercial negotiations with the joint venture partner.
• Support with investment and valuation case preparation. 
• Project management of transaction with an embedded team acting as an extended arm of NWEN (UK). 

Centrus’ added value

• Successfully supported NWEN (UK) in valuing the transaction to achieve required internal returns and placing NWEN (UK) ahead of the competition to obtain exclusivity. 
• Successfully created a commercial structure that supported the transformation of the NWEN (UK) private electricity infrastructure-as-a-service solution. 
• Centrus worked collaboratively with NWEN (UK)’s legal advisors, Pinsent Masons, to successfully close the transaction. 

“This is a great opportunity for NWEN (UK) to continue to expand its investment in new zero enabling electricity infrastructure and to deliver high-value jobs and unlock economic growth in the North of England. Centrus were instrumental in assisting us design and implement an investment structure and were crucial in supporting us through financial close.” 

Ian Smyth, CEO – North West Electricity Networks (UK) Limited 

“Centrus is delighted to support its valued client in this exciting collaboration. This joint venture represents a unique opportunity for NWEN (UK) to expand its non-regulated business and invest in critical infrastructure that will drive regional economic growth. We’re proud have played a significant role in helping deliver this ambitious project and look forward to seeing the positive impact it will bring to the community.” 

Geoff Knight, Executive Director – Centrus 

For more information, please contact Geoff Knight, or Barney Harris .

Back to Credentials

• 
• 
•