Evolution Infrastructure today announces a significant expansion of financial advisory capability in the UK energy and infrastructure markets, following its acquisition by the Steer Group. This development strengthens the collective depth of expertise alongside Amberside Advisors, which has been part of Steer since 2022.
The UK remains one of the world’s most mature infrastructure and energy markets, characterised by long asset lives, complex financing structures, public-sector involvement and rigorous regulatory oversight. Success in this environment requires advanced financial expertise, robust modelling capabilities and independent professional judgement.
By combining complementary experience across Evolution Infrastructure and Amberside Advisors, the Steer Group enhances its ability to support complex, high-value mandates; particularly in areas where financial structuring, modelling discipline and long-term risk allocation play a central role in investment decision-making.
In the near term, Evolution Infrastructure and Amberside Advisors will continue to operate as distinct businesses. Collaboration will be focused on projects where integrated expertise strengthens outcomes, while maintaining continuity in client relationships and delivery teams. The Steer Group provides long-term backing and strategic stability to support future growth.
The two firms have already contributed to several major UK infrastructure assignments. Most recently, both played key roles on the £3bn Haweswater Aqueduct Resilience Programme (HARP), one of the largest greenfield infrastructure projects procured in the UK in recent years. Evolution Infrastructure advised GLIL Infrastructure through the investment decision phase, while Amberside Advisors was jointly appointed by United Utilities and Cascade Infrastructure, a consortium including GLIL, Equitix and Strabag to provide ongoing assurance services.
HARP is a nationally significant water infrastructure project and the first to be delivered under Ofwat’s Direct Procurement for Customers (DPC) model. The complementary involvement of both firms on this landmark programme demonstrates a shared level of technical capability, strategic alignment and ambition to support complex, long-term infrastructure delivery.
Hugh Jones, CEO, Steer Group: “This acquisition reflects Steer’s ambition to build a leading financial advisory capability for the energy and infrastructure sectors, at a time when projects are becoming larger, more complex and subject to greater scrutiny. Bringing Amberside Advisors and Evolution Infrastructure together deepens our expertise and resilience on the most demanding mandates, while enabling Steer to support clients with a more comprehensive service portfolio across a broader set of markets, geographies and long-term investment challenges.”
Dan Tyerman, Managing Partner, Evolution Infrastructure: “Joining Steer Group provides a stronger platform and long-term backing to accelerate our growth, supported by strategic recruitment and access to new markets. With the increased depth of resource, we will be able to support clients more effectively as projects expand in scale, complexity, and geographic reach, while remaining firmly committed to high-quality, independent financial advice – all underpinned by the strong analytical discipline for which we are known.”
Paul Austin, Founding Director, Amberside Advisors: “Our work increasingly sits at the intersection of complex financing, long asset lives and public accountability. This partnership strengthens our ability to service larger, more complex mandates, while preserving the independence, rigour and client relationships that define how we work.”
Clients will continue to benefit from the same established teams and relationships, with access to broader specialist expertise where required. Evolution Infrastructure remains committed to delivering independent, high-quality financial advisory services across the full lifecycle of energy and infrastructure investments.
About Steer Group
Steer is a global consultancy specialising in infrastructure, transport, energy and the built environment. The firm works with public- and private-sector clients to support decision-making on complex programmes and long-term investments, combining strategic insight with technical and financial expertise. www.steergroup.com
About Amberside Advisors
Amberside Advisors is a UK-based financial advisory firm focused on the infrastructure and energy sectors. The firm provides financial and commercial advisory, supported by in-depth financial modelling services to asset managers, developers, investors, corporates and public-sector organisations, supporting decision-critical work across transaction support, funding strategy, valuation and long-term asset planning. Amberside Advisors has been part of the Steer Group since 2022. www.amberside.uk
