East Surrey Holdings/Kellen Ventures

Kellen Ventures, a new company owned ultimately by East Surrey Holdings (25%) and Terra Firma (75%) acquired Centrica's gas transportation business, British Gas Connections Limited ("BGCL") for £90mlion.

BGCL owns and operates gas transportation networks, primarily to new housing developments, and has connected assets serving 139,000 properties in the UK. The business also has a future order book of 35,000 connections.

Canaccord Genuity advised East Surrey Holdings throughout the BGCL auction process run by Centrica.