Ancala announces new Partners alongside promotions across its investment team

Tim Power and Ankur Ajmera have been promoted to Partner. Tim joined Ancala in 2015, while Ankur joined shortly afterwards in 2016. Both Tim and Ankur have played a pivotal role in identifying and completing successful investments, developing and enhancing Ancala’s investment team, and helping to lead the firm’s broader recruitment programme.

Most recently, Tim led Ancala’s investment in leading Norwegian supply base, Fjord Base. Ancala’s investment is helping the business to expand into new sectors such as Norway’s rapidly growing offshore wind industry, hydrogen generation and ammonia bunkering. Tim sits on the board of Leep Utilities and has been a key driver of its growth through the acquisition of SSE Water and more recently its UK heat initiatives. Tim has also worked on Ancala’s investments in the SAGE terminal and pipeline, Dragon LNG, Portsmouth Water and Liverpool Airport. He works actively with each of these companies to support their growth plans.

Ankur has worked on a number of Ancala’s investments including the UK’s leading biogas platform, Biogen; the largest private electricity generator in Iceland, HS Orka; waste management specialist, Augean; and Scandinavian rail freight operator, Hector Rail. In addition, Ankur supported Ancala to deliver the acquisition, growth and subsequent exit from Fore Freedom, a leading developer, owner and operator in the Dutch fibre market. Ankur has helped to steer Biogen’s successful buy and build strategy. Since Ancala’s initial investment, Biogen has acquired more than a dozen new sites, more than doubled its capacity and has become a market leading producer of biogas in the UK, with plans for further growth.

Alongside Tim and Ankur becoming Partners, a further four promotions were made in Ancala’s investment team. Oliver Tatam and Tom Crombleholme have been promoted to Vice President, meanwhile Nick de Rivaz and Jose Orellana have been promoted to Associate.

The promotions follow a sustained period of activity for Ancala. Since the start of the year, Ancala has invested in international aerial emergency services provider Avincis, Fjord Base and decarbonised heating and cooling specialist Noventa. The infrastructure investor has also supported the continued growth of its portfolio companies. In March, Ancala announced plans to provide Portsmouth Water with an additional £150m to construct the UK’s first new reservoir since the 1980s. It also helped waste and resource management group Augean to acquire Future Industrial Services, a complementary waste management and industrial services business.

Spence Clunie, Managing Partner, Ancala, commented:

“These promotions are deserved recognition for the effort and material value add our team members are making towards supporting the growth of Ancala and our portfolio companies, along with their contributions to our culture. I’m looking forward to welcoming Tim and Ankur onto our Investment and Management Committees as they help us to continue the strong growth of Ancala.”