Our commercial advisory team, supported by financial modelling colleagues, advised on asset valuation and market engagement, and led the formal sale process and commercial negotiations.

The project commenced in 2023, when Woking Borough Council began reviewing its portfolio, with the divestment reflecting a rationalisation of assets and a re‑focus on local services. TCMKL has been providing district heating and private wire network to 1,222 domestic customers and 80 business customers in Milton Keynes since 2004.

Amberside Advisors supported the client in evaluating strategic options for the asset, including divestment, refinancing and co‑investment, and brought the opportunity to market through a structured and competitive process. The team led negotiations with shortlisted bidders on key pricing variables and underlying bid assumptions, including tariffs, energy costs and post‑deal operating costs.

On 16 June 2026 the completion of the sale of TCMKL to Utilities Services (MediaCity UK) Ltd., a subsidiary of Leep Utilities Ltd was announced.