Canada-based investment group Brookfield Business Partners is buying an 85 percent stake in Greenergy, the UK’s largest supplier of road fuels.
Existing Greenergy management shareholders will invest alongside Brookfield and will retain a 15 percent share in the business. As part of the process all existing non-management shareholders will exit the business.
A statement said there will be no change to company strategy and the current management team will remain in place.
Greenergy chief executive Andrew Owens said the firm had a long-standing aim to increase access to capital through a strategic investor. “The participation of Brookfield Business Partners will allow us to participate in larger-scale strategic mergers and acquisitions to propel our business to its next phase of development,” he commented.