Date Closed

March 30, 2023

Lead Office

Toronto

On March 30, 2023, Ancala Partners (“Ancala”) acquired a majority interest of Noventa Energy Partners Inc. (“Noventa”).

Noventa is a decarbonised heating and cooling provider headquartered in Toronto, Canada.

Ancala is an investment management service headquartered in London, England. Ancala has made the investment on behalf of Ancala Infrastructure Fund III, Ancala’s third mid-market focused infrastructure fund.

Ancala's investment in Noventa will support Noventa in its pursuit of its international growth plans as well as boost the delivery of wastewater energy projects.

McCarthy Tétrault advised Noventa Energy Partners with a team led by David Lever and Matthew Kelleher that included Suzanne Murphy, Sarah Ferguson, Rebecca Summers, Zachary Masoud (Business), Patrick McCay, Joy Elkeslassy (Tax), Jessica Wuergler (Employment & Labour), Deron Waldock (Pensions), Marissa Caldwell (Intellectual Property), Leah Bedder, Deborah Kay, and Crystal Tong.