Transaction Details

May 1, 2013
Manchester

Sector

Energy

Deal Type

M&A, Equity

Deal Value

N/D

Deal Team

Adrian Reed

GCA Altium acted as financial adviser and NOMAD to Alkane Energy on its acquisition of certain Coal Mine Methane assets of Maltby Colliery Ltd, a wholly owned subsidiary of Hargreaves Services plc.

Alkane Energy is one of the UK’s fastest growing independent power generators. The Company operates mid-sized “gas to power” electricity plants providing both predictable and fast response capacity to the grid. Alkane has a total of 70MW of installed generating capacity and an electricity grid capacity of 89MW. The acquisition of the Maltby Colliery assets will add a further 11MW to this generating capacity.

Alkane’s main operations are based on a portfolio of coal mine methane (“CMM”) sites. Alkane has the UK’s leading portfolio of CMM licences, enabling the Company to extract gas from abandoned coal mines.

At the time of completion, Alkane Energy and Hargreaves Services had a market capitalisation of £37.5m and £290m respectively.

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