Established in 1996, Phoenix is Northern Ireland's largest natural gas distribution and energy services company. Prior to its creation there was no natural gas network in Northern Ireland and over the last 20 years Phoenix’s network now extends to over 3,000 kilometres of mains, making gas available to around 300,000 properties, of which 180,000 customers have connected. The business, which employs around 200 people, now owns and operates the Greater Belfast natural gas network and is responsible for making gas available to around half the population of Northern Ireland. Terra Firma invested in the business in 2005 and with Phoenix worked with regulatory authorities to ensure a regulatory environment with transparent and stable gas prices. Terra Firma sold Phoenix in August 2013 to Utilities Trust of Australia, a fund managed by Australian infrastructure investor Hastings, and the Royal Bank of Scotland Group Pension Fund.
WINNER OF THE BVCA MANAGEMENT TEAM AWARDS 2014 AND 2015
Backers Terra Firma: 2005 - 2013
TERRA FIRMA SELLS PHOENIX NATURAL GAS