Iona Management Services (“IMS”) is pleased to announce the acquisition of Biogas Power Operations (‘BPO’) which operates and maintains three of Iona Capital’s (“Iona”) gas to grid biogas plants in Scotland. Under the terms of the acquisition agreement, Spyros Iliakis will become a director of BPO and have a significant equity ownership in the company. Spyros originally joined the Biogas Power team at its inception and will now be responsible for managing a team of 10 full time biogas operations staff.
IMS has worked closely with Spyros and his team since 2014 and is looking forward to continuing that successful relationship. IMS will continue to provide additional support to BPO common management functions and plant maintenance.
Spyros Iliakis commented, ‘I’m really looking forward to this opportunity and working closely with Peter Mills and the IMS team. This is an exciting time for the low carbon technologies market, and we will continue to support Iona in its endeavours to help the UK transition towards a low carbon economy.’
Nick Ross, founder of London based fund manager Iona Capital, commented ‘Our strategic acquisition of the Biogas Power team has been part of our commitment to a continued improvement of our asset management services. Spyros is a highly regarded operations manager and has been pivotal to the success of our Scottish assets. We look forward to seeing the business grow under his leadership’.
For further information on the acquisition please contact [email protected].
Iona Management Services is one of the UK’s leading independent service providers within the low carbon renewables sector. Alongside other disruptive technologies, IMS provide operations and maintenance services on-demand to anaerobic digestion, combined heat and power (CHP) and biomass projects.
Iona is a leading specialist investment manager with a focus on investing in long term projects in the renewable and low carbon energy infrastructure sectors. Iona manages four funds and has invested in 24 projects to date. Headquartered in London, Iona has an experienced team of renewable energy, waste industry and private equity specialists.