Iona acquires Biogas Power Operations

Iona Management Services (IMS) has acquired Biogas Power Operations (BPO), which operates and maintains three of Iona Capital’s gas-to-grid biogas plants in Scotland.

Under the terms of the acquisition agreement, Spyros Iliakis will become a director of BPO and have significant equity ownership of the firm. Iliakis joined the BPO team at its inception and will now be responsible for managing a team of 10 full-time biogas operations and staff.

IMS has worked closely with Iliakis and his team since 2014 and said it is looking forward to continuing the relationship. IMS will continue to provide additional support to BPO common management functions and plant maintenance.

“I’m really looking forward to this opportunity and working closely with Peter Mills and the IMS team,” said Iliakis. “This is an exciting time for the low-carbon technologies market and we will continue to support Iona in its endeavours to help the UK transition towards a low carbon economy.”

Nick Ross, founder of Iona Capital, commented: “Our strategic acquisition of the BPO team has been part of our commitment to a continued improvement of our asset management services.

“Spyros [Iliakis] is a highly-regarded operations manager and has been pivotal to the success of our Scottish assets. We look forward to seeing the business grow under his leadership.”

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