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VC/PE round-up, March 2007 |
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Green Alliance to manage EUR 120m cleantech fundTerra Firma renewable power portfolio company in £80m acquisition3i invests EUR 30m in independent renewable power businessKKR owned interest buys waste disposal firm in HollandLitorina buys waste management companyFirst published in Cleantech magazine, March 2007. Copyright Cleantech Investor Ltd, 2007
Green Alliance to manage EUR 120m cleantech fund
The Barcelona branch of Green Alliance will manage a EUR 120m fund to invest in renewable energy projects in Spain. The newly-established firm is pending approval from the regulatory body CNMV. Green Alliance is reported to have secured EUR 80m in existing commitments. Investors include the European Investment Fund, as well as institutional and private backers. The fund expects to start operations in early April.
Terra Firma renewable power portfolio company in £80m acquisition
Infinis Ltd, a generator of renewable power owned by UK private equity firm Terra Firma, has acquired RE-Gen, a 42MW biogas power generation. The seller, waste management business Summerleaze, has sold the business for £80m. The acquisition of RE-Gen, which manages 24 sites in the south of England, will allow Infinis to increase its 10% market share of the UK renewable power sector.
3i invests EUR 30m in independent renewable power business
Buyout house 3i has acquired a minority stake in Electrawinds, an independent renewable energy company, for EUR 30m. The company operates from is headquarters in Belgium and Italy. It currently has 45MW of installed capacity in wind and biomass energy. Since its inception in the late nineties, Electrawinds has invested a total of EUR 100m in
renewable energy projects. The company has plans to add a further 400MW of energy generation. 3i’s investment will support the construction and development of additional wind and biomass projects across Europe. Electrawinds is planning to invest a further EUR 100m in renewable energy projects during 2007. The company aims to post a turnover of EUR 50m in 2007 and EUR 100m in 2008.
KKR owned interest buys waste disposal firm in Holland
Rotterdam-based AVR, a waste management company, has agreed to acquire fellow waste disposal firm Van Gansewinkel. The company’s founders and ING Corporate Investment are understood to have sold the company for around EUR 900m. AVR’s owners are private equity giants Kohlberg Kravis Roberts (KKR) and CVC Capital Partners, as well as the Oranje Nassau Group. Upon completion, the merger will create Holland's largest waste disposal firm, with a combined turnover of around EUR 1.1bn.
Litorina buys waste management company
The waste management sector has proven to be a hot sector for Nordic PE players too. Litorina Kapital has acquired a majority stake in Resta, a Stockholm headquartered waste management company. The founders will retain a minority stake of around 25%. Established in 2002, Resta focuses on the collection, transportation, sorting and treatment of waste for municipalities and industrial customers. The company posted a turnover of SEK 120m (£ 8m) in 2006. |
