
National Gas
Operating Great Britain's national gas transmission network.
Date | Investors | Amount | Round |
---|---|---|---|
investor investor | €0.0 | round | |
* | N/A | Secondary | |
Total Funding | 000k |
The story of National Gas isn't one of a startup born in a garage, but of a strategic carve-out from an established giant. For years, the UK's high-pressure gas transmission system was an integral part of National Grid plc, a massive utility company. The system itself is the backbone of Britain's energy, a sprawling network of over 5,000 miles of pipeline that transports gas across the country. The major shift happened in March 2022, when National Grid announced its decision to sell a majority stake in its gas transmission and metering business. This was a strategic pivot, allowing National Grid to focus more on electricity. A consortium of long-term infrastructure investors, led by Macquarie Asset Management and including British Columbia Investment Management Corporation, stepped in to acquire a 60% stake. By January 2023, the deal was done, and a new, standalone entity was born: National Gas. This wasn't just a simple transfer of assets; it marked the creation of a new, focused player in the UK's energy landscape, headed by CEO Jon Butterworth. The acquisition unfolded in stages. The consortium increased its stake to 80% and, by September 2024, completed the acquisition of the final 20%, making National Gas fully independent from its former parent. The entire transaction for 100% of the company was valued at approximately £3.6 billion.