A Somerset-based solar renewables company has been acquired by the fund of a London asset management company for an undisclosed sum.
British Solar Renewables (BSR), in Shepton Mallet, has been bought by CG's debut infrastructure fund, ICG Infra. ICG Infrastructure Equity successfully raised €1.5bn in investor commitments in February. The fund attracted commitments from more than 40 clients across Europe, the UK, Australia, the US and Canada.
ICG Infra acquired BSR from Siem Europe and will become the majority owner of BSR. The current management team will remain as shareholders and will work alongside ICG to develop the current pipeline and business.
