Investments
In December 2014, I Squared bought out the Jaipur Mahua Tollways, a 109 km road project on National Highway 11 in Rajasthan, India.[8] In 2014, I Squared partnered with Enduring Hydro to form Cube Hydro Partners.[9] Through Cube Hydro, I Squared made a number of investments in the hydro-electric power industry. In February 2015, the firm acquired 10 run-of-the-river hydroelectricity plants located in Pennsylvania, Virginia and West Virginia,[10][11] By July 2016, the firm controlled 14 hydroelectric power facilities in the US and, following subsequent acquisitions during this period, operated a total of 19 facilities located on 10 rivers in 5 states.[12]
I Squared has also invested in other sectors of the energy industry. In August 2015, the firm invested US$150 million into Amplus Energy Solutions Private Limited, an Indian rooftop solar power company.[13] In December 2015, I Squared purchased the 220 mi pipeline gathering system owned by WPX Energy in the San Juan Basin in New Mexico. The purchase price was reported to be US$285 million.[14] In January 2016, I Squared acquired Lincoln Clean Energy which develops and operates wind farms across North America, including two in Texas.[15] The firm sold Lincoln Clean Energy to Ørsted for $580 million in August 2018.[16]
In March 2016, I Squared bought the Irish power company Viridian for about one billion euros. Viridian provides about 20% of the power to Ireland through gas-fired power stations and wind farms.[17] In October 2016, I Squared Capital agreed to acquire Duke Energy's hydroelectric and natural gas business in Peru, Chile, Ecuador, Guatemala, El Salvador, and Argentina for US$1.2 billion.[18][19]
I Squared has made a number of investments in telecommunications infrastructure. In August 2017, the firm acquired the fixed-line phone business Hutchison Global Communications from Li Ka-shing's Hutchison Telecommunications for $14.5 billion Hong Kong Dollars ($1.86bn USD). Hutchison Global Communications operates a fiber-optic network that consists of over 1,400,000 km of cable and a WiFi network that includes over 25,000 hot-spots.[20]
In October 2020, I Squared agreed to buy the infrastructure division of GTT Communications for US$2.15 billion.[21] The acquisition included the submarine fiber network, data center infrastructure and services of GTT Communications in Europe and North America.[22] In 2021, I Squared spun out of the assets acquired from GTT Communications as EXA Infrastructure, a standalone company based in London which, at the time, controlled 103,000 km of fiber optic cable and eight subsea cables, connecting 300 cities and 14 data centers.[23]
In March 2021, I Squared Capital announced that its £2.3 billion ($3.4 billion) joint bid with TDR Capital to acquire the British mobile power company Aggreko was accepted.[24][25] In May 2023, I Squared acquired Rentco Transport Equipment Rentals, an Australian truck and trailer leading company.[26] In October 2023, I Squared Capital reached a deal with Deutsche Bahn to acquire UK transportation company Arriva.[27] The transaction was completed in June 2024 following ratification of the deal by the European Commission.[28]
In January 2024, I Squared bought 49% of Órigo Energia, which is a Brazilian renewable energy company that builds and operates solar farms near cities.[29]
In July 2025, North American school bus operations Durham School Services and Stock Transportation were purchased from the Mobico Group.[30][31][32]
