Bell Gully has advised global infrastructure investment manager Igneo Infrastructure Partners on the sale of Clarus’ gas transmission, distribution and storage assets, and electricity distribution network.
The gas assets owned by Firstgas, Rockgas and Flexgas will be sold to funds controlled by Brookfield. The Firstlight electricity distribution business will be sold to Powerco. The transactions remain subject to certain conditions and approvals with completion expected in the first half of 2026.
Bell Gully partners Dean Alderton and David Coull led the team that advised on the transactions. “We are proud to have assisted Igneo on the acquisition and now the disposal of the Clarus assets. It’s been a fantastic 10-year journey working with the Igneo team, its many advisers and Clarus senior management, culminating in the proposed sales to Brookfield and Powerco. Igneo has been (and continues to be) a great investor in and custodian of key New Zealand infrastructure,” said Alderton.
The Bell Gully team included partners Zac Kedgley-Foot, Glenn Shewan, Laura Littlewood, Kirsty Dobbs and Scott Lochhead. Other key team members included Lincoln Matthews, Ash Hebden and Finnbahr Boyle.
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