About

Bregal Investments is an international private equity firm providing a platform for five direct investment teams and a fund-of-funds team across the US and Europe.

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Funds

All our investment teams have distinct investment strategies and focus on investing in mid-market companies in a variety of sectors in the US and Europe.

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Flexible capital and strategic assistance for market-leading companies in high-growth sectors.

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Equity capital for mid-sized companies in the DACH region and Northern Italy.

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Providing growth capital and strategic assistance to ambitious, market leading technology companies in Europe.

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Building world-class businesses in the middle market in North America.

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Energy, power and renewables focused middle market fund.

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Private equity funds, co-investments and secondaries.

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People

Our experienced global investment team seeks to create long-standing relationships and drive lasting impact within our portfolio companies.

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Responsibility

We champion a responsible investment approach focused on creating long-term, sustainable value and are conscious of the responsibilities we have towards all our stakeholders. 

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Case studies

Examples of how we are collaborating with our portfolio companies to improve their ESG performance.

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Employee giving

Our Philanthropy Programme is designed to encourage our employees to become more active in charitable organisations.

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Bregal Helps Initiative

In early 2020, together with the COFRA Foundation, senior Bregal employees also established a €3 million Bregal Helps Initiative to help our portfolio companies support their local communities affected by Covid-19.  

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Locations

We have offices in seven locations in the US, UK, Germany, Jersey, Luxembourg and Italy.

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Case study – IMG Midstream

IMG Midstream (IMG) develops, owns and operates quick start, small-scale natural gas-fired power generation projects in the PJM Interconnection.

Bregal Responsible Investment Report - 2018/2019

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PJM is the biggest regional transmission organisation in the US providing power to more than 65 million people in the Mid-Atlantic and Mid-West regions.

IMG currently owns five operating projects in PJM with one more project under construction, which will bring its portfolio above 125 MW. In addition, the company has seven projects in its development pipeline.

Sector: Energy
Head office: Pittsburgh, PA, USA

In 2018, IMG furthered its commitment to low emission generation through the installation of improved SCR emission controls at its Wolf Run project. These SCR controls allowed IMG to reduce the project’s emission limits by up to 65% over its previous Jenbacher plants. IMG’s operational fleet continues to minimise its disturbance to the local community through the use of advanced sound mitigation technology which kept IMG’s fleet sound levels well below regulatory limits for 2018.

ESG impacts & performance

17%

Average noise level 17% below the 55 dBA prescribed by the US EPA

10.8%

Average of 996 CO2 lb/MWh, 10.8% below target level

IMG recognises the importance of being socially and environmentally responsible as an integral part of its business model: the company is devoted to playing an integral role in North-America’s energy landscape.

Material issues:

Best-in-class emission levels

Positive impact on surrounding environment

Noise pollution

Employee safety and training

Gas service to rural communities

Local job recruitment

Best-in-class emission levels

As a responsible member of the Marcellus Shale Region, IMG has voluntarily implemented internal design and engineering measures to minimise any potential negative effects that could occur as a result of the development and operation of its facilities. Specifically, IMG utilises selective catalytic reduction (SCR) control technologies to reduce the emissions created by its operations, allowing the company to demonstrate emission levels that are consistently below both state and federal standards for reciprocating natural gas engines. In 2018, with an average of 996 CO2 lb/MWh, the company outperformed its carbon intensity target of 1,117 CO2 lbs/MWh by 10.8% with no deviation from emission limits throughout the year.

Positive impact on surrounding environment

IMG is committed to safeguarding the environment and has set a consistent culture of environmental stewardship among its employees and contractors. By locating its facilities near natural gas production as well as local electric substations, its business model is designed to minimise local environmental impact, thereby reducing the need for added infrastructure. The plant’s proximity to natural gas supply in turn helps reduce fugitive methane emissions associated with gathering, compression and transmission. This also allows the company to achieve a competitively low cost per kWh, while alleviating stress on the regional grid.

Noise pollution

By utilising advanced noise-cancelling technologies, IMG was able to achieve an average noise pollution level of 45.5 dBA at the nearest residence. The figure is 17% below the 55 dBA prescribed by the US Environmental Protection Agency (EPA), which is equivalent to a conversation in a restaurant. While local noise ordinances are not mandatory at all of IMG’s project locations, IMG is proactively implementing the same safeguard measures across its entire project portfolio.

Employee safety and training

IMG aims to go above and beyond prescribed regulations on staff qualifications and to continuously improve the company’s health, safety and environmental bottom-line. In addition to the Occupational Safety and Health Administration’s required training, IMG has built a framework of Operator Qualification standards. Employees go through extensive training in order to enforce high standards, strict corporate policies and responsible and ethical procedures in their daily activities. This includes completing a three-month training programme, which ensures step-by-step that they have the essential operational skills for full-plant proficiency. Also, IMG organises regular meetings where employees are encouraged to discuss safety procedures and to identify ways the company can raise corporate safety standards and awareness.

Community relations

As many of IMG’s employees live and work in the project areas and volunteer in the community, the company regularly communicates with local communities and media about its operations and seeks out opportunities to engage with the public to maintain an open dialogue.

Gas service to rural communities

IMG acts as supporter and facilitator for the use of locally produced natural gas in rural communities. For the Oxbow Creek Energy project in Pennsylvania, the company chose to work with a local distribution company (LDC) to transport locally produced natural gas from a nearby midstream gathering pipeline to the project site.

The LDC will make natural gas service available to customers that are in the general path of the gas distribution line. As the midstream pipeline pressure is very high, the cost to reduce this pressure for use at local commercial businesses and residences would have been prohibitive. Thus, if not for the investment in the Oxbow Creek Energy projects and inclusion of the LDC as part of the project’s natural gas service, neither the project nor the gas distribution line would have been possible in this rural area.

Local job recruitment

IMG employs 16 people to operate and maintain its fleet of power generation projects. The majority of IMG’s operations and maintenance team come from the same local communities where the company invests and operates its projects. Technical aptitude and solid training are essential components to being a safe and good operator, as is reflected in the company’s strong operating record.

Recognising this, IMG supports a local trade school by participating in semi-annual job fairs, the funding and awarding of an annual scholarship, and by promoting the hiring of its students at IMG and throughout the general community. IMG’s Lead Operations Manager has been appointed to the board of advisors for the school, acting as an ambassador between IMG, the community and the school’s staff, helping to shape the curriculum and facilitating the placement of graduating students. IMG has hired seven operators from this local technical trade school.

Bregal Energy

Energy, power and renewables focused middle market fund.

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