Macquarie Group is set to call time on its water and energy infrastructure company Uon, hiring investment bankers to help find a buyer in coming months.
It said Uon expected $170 million revenue and $31 million in earnings before interest, tax, depreciation and amortisation in the 2022 financial year, and was seeking to make more than 40 per cent of its revenue from renewable energy projects/solutions by 2026.MA Moelis’ bankers pitched Uon as a way to play the energy transition.
It’s expected to attract interest from remote power players - Zenith Energy, Pacific Energy and Energy Developments - and the types of infrastructure-minded financial investors that have bought into Zenith and Pacific Energy in recent years.