Antin Infrastructure Partners has mandated TD Securities and Evercore as sellside advisors to run a sale process for district energy firm Vicinity Energy, sources familiar with the process said.

Antin is exploring a sale of the business, which it acquired from Veolia Environmental in July 2019 in a USD 1.25bn deal. The firm held a bakeoff this summer to interview potential advisors.

Antin declined to comment. Vicinity, TD Securities, and Evercore did not respond to requests for comment.

The platform, which is headquartered in Boston, operates 19 district energy systems in 12 cities. It was rebranded as Vicinity Energy in January 2020 following Antin’s purchase. Vicinity is led by president and CEO Kevin Hagerty.

The company is owned by Antin Infrastructure Partners III, according to Infralogic data.

Vicinity’s customers include Northwestern University, Drexel University, and the Oklahoma City Convention Center, according to the firm’s website. The company serves industries such as commercial real estate, higher education, government, and healthcare.