3i-backed Future Biogas to acquire a 51% stake in a portfolio of six gas-to-grid AD facilities from JLEN for £68.1m.

3i-backed Future Biogas, one of the largest anaerobic digestion plant developers and biogas producers in the UK, agreed to acquire a 51% stake in a portfolio of six gas-to-grid AD facilities from JLEN, a large British investment trust, for £68.1m. Future Biogas is very familiar with these assets, having originally developed five of the six plants as well as operating each for an average of eight years. As majority owner, Future Biogas will be able to deliver investment-led enhancements already identified by the management team. The acquisition also provides Future Biogas with immediate scale, which we expect will be attractive to potential acquirers when we decide to exit.