Mac Bank makes cool US acquisition
(16th December 2003 – Australia) Macquarie Bank is set to acquire US cooling solutions company Exelon Thermal Technologies for A$182 million.
The bank said it will fund the purchase price through a mixture of debt and equity and will consider transferring the acquisition to a Macquarie-managed company or US-based company.
The purchase of Exelon, which provides environmentally friendly cooling solutions to Chicago-based facilities, follows a busy period of asset acquisitions for Macquarie, particularly in the European markets.
The bank recently snapped up Sweden’s A-Train operations for A$76 million and UK water utility South East Water for A$1.67 million as assets for its Macquarie European Infrastructure Fund (MEIF).
The MEIF is the bank’s fourth largest infrastructure fund outside of Australia.
The purchase of Exelon, which provides environmentally friendly cooling solutions to Chicago-based facilities, follows a busy period of asset acquisitions for Macquarie, particularly in the European markets.
The bank recently snapped up Sweden’s A-Train operations for A$76 million and UK water utility South East Water for A$1.67 million as assets for its Macquarie European Infrastructure Fund (MEIF).
The MEIF is the bank’s fourth largest infrastructure fund outside of Australia.
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