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Utilities

Last Mile

Profile reviewed

Last Mile designs, builds and operates utility connections across Great Britain. MAM-managed funds reached full ownership in May 2026. Energetics and UKPS now operate under the Last Mile name for design and build activities. [1][2][3]

01 / Behind the name

Who owns Last Mile?

Private · 100% · MAM-managed funds [1][2][3]

  1. 01
    Disclosed investment scope

    Last Mile Infrastructure Group [1][2][3]

    As reported · 13 May 2026
  2. 02
    Investment manager / disclosed portfolio sponsor

    Macquarie Asset Management [1][2][3]

    As reported · 13 May 2026

MAM's February agreement described increasing managed funds' interest from 50% to 100%; Last Mile confirmed completion on 13 May. Energetics and UKPS adopted Last Mile branding in 2026; Icosa Water was integrated into the Last Mile brands in 2025. Last Mile Asset Management, Heat and Water remain customer-facing names within the group, not separate additional fund investments. This is selected ownership evidence, not a complete legal parent or shareholder register. Headquarters and parent incorporation have not been separately verified; the location of operations is not treated as proof of either. [1][2][3]

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02 / On the map

Where is it based?

Disclosed investment manager
Macquarie Asset Management [1][2][3]
Group headquarters
Not yet verified [1]
Parent incorporated in
Not yet verified [1]

Headquarters, incorporation and tax residence describe different things. A headquarters address does not tell you where all of a company’s tax is paid.

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Investors in Last Mile

Investor disclosures found

Selected investor disclosures have been found. Each names the held entity, basis and date; the complete investor register remains outside this review. A stake in a parent or operating company is shown against that entity. Dates refer to each disclosure and can differ from the profile review date. Evidence links are included with each record.

Fund investment

Macquarie Asset Management

Held entity · Last Mile Infrastructure Group

100% · MAM-managed funds

Full ownership confirmed ·

MAM's February agreement described increasing managed funds' interest from 50% to 100%; Last Mile confirmed completion on 13 May. Energetics and UKPS adopted Last Mile branding in 2026; Icosa Water was integrated into the Last Mile brands in 2025. Last Mile Asset Management, Heat and Water remain customer-facing names within the group, not separate additional fund investments.

Evidence · 3 sources

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03 / The figures, with context

What does it report in UK tax?

The ownership review has not established a dated UK cash corporation-tax payment. Fund investors, operating businesses and property vehicles can have different reporting scopes; no amount is inferred from the investment disclosure.

United KingdomNot yet verified

UK corporation tax paid

Not yet verifiedCash payment

Last Mile · UK reporting scope not verified
Annual reporting period not yet verified

The cited sources establish investment or portfolio information, rather than a dated UK cash payment. The relevant UK tax-paying entity, filed financial period and cash corporation-tax payment have not been separately reconciled in this review. Not verified does not mean that no tax was paid. [1]

These figures have different scopes. They should not be added together or used as a like-for-like tax ranking.

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04 / Check our working

The public record.

Primary sources used in this profile. Company disclosures are attributed to the company; inclusion is not an independent audit.

  1. 01
    Last Mile confirms full Macquarie ownership (opens in a new tab)

    Last Mile · 13 May 2026: remaining Infracapital interest acquired; now wholly owned

    Accessed 9 Oct 2026
  2. 02
    Agreement for remaining Last Mile stake (opens in a new tab)

    Macquarie Group · 5 February 2026: MAM-managed funds to own 100% following completion

    Accessed 9 Oct 2026
  3. 03
    Last Mile business and brand history (opens in a new tab)

    Last Mile · 2025 Icosa Water integration; 2026 Energetics and UKPS design/build rebrand; utility infrastructure activities

    Accessed 9 Oct 2026