Market authorities launch inquiry into investment in Gloucestershire company

The Competition and Markets Authority (CMA) has opened an inquiry into Macquarie Asset Management’s proposed acquisition of a significant stake in a Gloucestershire business.

Last Mile Infrastructure  adopts and operates electricity, gas, water and wastewater networks.

The firm offers competitive asset value for single or dual utility, residential, commercial, smart metering or mixed developments.

It is responsible for managing the adoption process from sale to completion before the assets are adopted by its sister companies.

Once adopted, Last Mile Asset Management provides maintenance and emergency cover for those networks.

The CMA’s investigation will determine whether the deal might lead to a reduction in competition in the UK market or impact the ability of Ofgem to compare energy network operators.

The CMA said: “The CMA is also considering whether it is or may be the case that this transaction if carried into effect, will result in the creation of a relevant merger situation involving an energy network merger under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to cause substantial prejudice to the ability of Ofgem to make comparisons between energy network enterprises of the type involved in the energy network merger.”

The CMA has invited public comments on the matter, with a deadline for submissions set for 2nd August 2024.