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Former Amey CEO to return to firm

Andy Milner will return to Amey as chief government, three years after he left the job.

Milner will lead the agency below its new possession, after personal fairness corporations Buckthorn and One Equity Partners (OEP) bought Amey from Ferrovial for £400m in October.

A press release from Buckthorn stated Milner had been “working with Buckthorn and OEP in help of our acquisition of Amey”.

Milner left the company in December 2019 and was changed by the contractor’s managing director of services administration, defence and justice, Amanda Fisher. He had led the enterprise since 2016.

US personal fairness agency OEP owns a portfolio of commercial, healthcare and know-how firms throughout Europe and North America. It was spun out of JP Morgan in 2015.

Buckthorn Companions focuses on shopping for energy-services companies concerned within the anticipated vitality transition from fossil fuels to renewable vitality.

After the sale of Amey went ahead, commentator Chris Davies of DRS Bond Management commented: “Non-public fairness is often predicated on an inner fee of return of between 25 per cent and 40 per cent over three to 5 years.

“Over three years at a 25 per cent inner fee of return, their minimal expectation needs to be to develop the enterprise worth to at the least £781m at resale. That’s punchy to say the least given the prevailing macroeconomic and geopolitical image.”