DIF Capital Partners closes the acquisition of 100% of energy platform BluEarth Renewables

DIF

DIF Capital Partners, through its most recent fund DIF Infrastructure V (“DIF V”), is pleased to have closed the acquisition of 100% of BluEarth Renewables LP (“BluEarth”) from Ontario Teachers’ Pension Plan (“OTPP”).

BluEarth is a leading, independent, power producer that develops, builds, owns and operates wind, hydro and solar facilities. Since its inception in 2010, BluEarth has developed and acquired 19 hydro, wind and solar projects across North America, representing 405 MW of gross capacity. In addition it has over 1,000 MW of projects under development. Headquartered in Calgary, Alberta, the company has been recognized as one of Alberta’s Top 75 Employers.

“We are very pleased to close this transaction,” said Paul Huebener, Partner and Head of DIF Americas. “BluEarth is an attractive investment that will provide attractive returns and stable cash flows to our investors. As we’ve been working together over the last several months, we also see strong growth potential ahead for BluEarth – particularly in the U.S. market.”

To support the company’s U.S. growth objectives, BluEarth recently established a commercial U.S. office located in Phoenix, Arizona.

DIF V was advised by Baker McKenzie, BMO Capital Markets, Agentis Capital, and KPMG. Financing is provided by BMO, Desjardins, and National Bank.

About DIF Capital Partners

DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 135 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Allard Ruijs, Partner
Email: a.ruijs@dif.eu

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The Carlyle Group completes acquisition of shareholding in Cepsa from Mubadala

Carlyle

  • Transaction completed in line with expectations announced on 8 April 2019
  • Carlyle acquires a 37% stake in Cepsa; Mubadala to remain majority shareholder in Europe’s largest privately-owned integrated energy company
  • Philippe Boisseau to be appointed CEO, taking over from Pedro Miro who will retire

Abu Dhabi, United Arab Emirates: Mubadala Investment Company, the Abu Dhabi-based sovereign investor, and global investment firm The Carlyle Group (NASDAQ: CG) have today reached completion of the transaction announced on 8 April 2019. 

Funds affiliated with Carlyle have acquired 37% shareholding in Compañía Española de Petróleos, S.A.U (Cepsa) from Mubadala.  Mubadala will remain the majority shareholder in Cepsa, holding the remaining 63%.

The composition of Cepsa’s Board of Directors reflects the new shareholding, with Mubadala entitled to appoint five members to the Board, including its chairman, and Carlyle to appoint three members.  In addition, there will continue to be one independent member and the company’s Chief Executive Officer will complete the board’s composition.

In parallel with the new shareholder partnership, Carlyle and Mubadala have named Philippe Boisseau as CEO to succeed Pedro Miro, who will be retiring.  Philippe is a seasoned industry leader with an extensive track record of over 30 years, notably with the Total Group, where he served in senior leadership roles in France, the Middle East, the United States and Argentina.

Musabbeh Al Kaabi, CEO, Petroleum & Petrochemicals, Mubadala, and Chairman of Cepsa, said: “We are pleased to have completed the transaction and look forward to working closely with Carlyle and Cepsa’s management on growing the business and creating even greater value from its portfolio and operations.”

“I want to thank Pedro Miro, especially, for his long and dedicated service to Cepsa.  He has played a vital role in developing Cepsa in recent years to become one of Spain’s leading companies and a business that is looking strong for the future.  I also want to welcome our incoming CEO Philippe Boisseau, who will be leading the company’s next phase of growth. Philippe is well known to Mubadala from his time in the Middle East with one of our long-term partners and we are pleased to have him on board.”

Marcel van Poecke, Head of Carlyle International Energy Partners and Vice-Chairman of Cepsa, commented: “Cepsa is an attractive, well-positioned international integrated energy player led by Pedro and his strong leadership team. We are pleased Philippe Boisseau has agreed to become CEO as he has an impressive range of skills and leadership in the international energy sector. I know he will work closely with Pedro and the Cepsa leadership team in the coming weeks to ensure a smooth and successful leadership transition. Carlyle remains excited about its role as an investor, along with Mubadala, in Cepsa.”

About Philippe Boisseau
Philippe Boisseau is a seasoned international executive who has worked throughout his career in the international energy sector.

Previously, Mr. Boisseau served as President, Marketing and Services, a global division of the Total Group and a member of the Executive Committee of Total S.A. (EPA: FP), a French oil and gas company, from January 2012 to April 2016.  Mr. Boisseau also served as President of Total Gas et Energies Nouvelles (Total Gas & Power), a division of Total S.A., from February 2007 to December 2011 and remained in charge of the New Energies activities until April 2016.  He also previously served as a member of Total S.A.’s Management Committee since January 2005.  He served as President, Middle East of Total S.A.’s Exploration & Production division between 2002 and February 2007 and, before that, as General Manager of Total Austral in Argentina from 1999 to 2002.  From 1995 to 1999, he worked in several management positions within the Refining and Marketing division in the United States and France.  At the beginning of his career, he served in various positions within French government ministries.

Mr. Boisseau is a member of the Regalwood Global Energy Ltd. Board of Directors and has also served as a member of the advisory board of the Energy Intelligence Group since 2018.  He is also on the board of Assala Energy and Enermech, both Carlyle International Energy Partners assets. Mr. Boisseau also serves on the board of I-Pulse Inc. since November 2017. Finally, he serves as senior advisor to Tellurian Inc. a US gas liquefaction Company.

Mr. Boisseau graduated from the leading French engineering school, École Polytechnique, and also holds a DEA (master’s degree) in particle physics from the École Normale Supérieure.

About Cepsa
Headquartered in Madrid, Spain, Cepsa is Europe’s largest privately-owned integrated energy company.

Cepsa is a household name and significant Spanish-headquartered company that has evolved through a combination of organic growth and strategic acquisitions.  It now operates assets across the full petroleum value chain in more than 20 countries, delivering through-the-cycle earnings resilience and also operates in the renewables sector.

The company’s upstream assets include significant reserves contained in both the Umm Lulu and SARB fields located offshore Abu Dhabi. Cepsa is also a significant oil producer in Algeria and operates in South America and Southeast Asia.

Cepsa’s retail business includes an extensive network of service stations across the Iberian Peninsula and an integrated energy offering to Spanish consumers, covering liquid fuels, gas and electricity.

The company owns and operates two refineries in Spain and has committed significant capital to ensure they remain among the most efficient in Europe and well positioned to respond to the new IMO quality and emissions requirements when they take effect in January 2020. 

Cepsa is also the global leader in the production of linear alkyl benzene (LAB), a key component in the manufacture of biodegradable detergents and the second largest producer of phenol and acetone.

About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for its shareholder, the Government of Abu Dhabi.

Mubadala’s US $229 billion portfolio spans five continents with interests in multiple sectors including aerospace, ICT, semiconductors, metals and mining, renewable energy, oil and gas, petrochemicals, utilities, healthcare, real estate, pharmaceuticals and medical technology, agribusiness and a global portfolio of financial holdings across all asset classes. Mubadala has offices in Rio de Janeiro, Moscow, New York and San Francisco, with a joint venture in Hong Kong.

Mubadala is a trusted partner, an engaged shareholder and a responsible global company that is committed to world-class standards of governance.  

For more information about Mubadala, please visit: www.mubadala.com

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions.  With $223 billion of assets under management as of June 30, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of our investors, portfolio companies and the communities in which we live and invest.  The Carlyle Group employs more than 1,775 people in 33 offices across six continents.Web: www.carlyle.com

About Carlyle’s Energy Platform
Carlyle has constructed a broad-based global energy, natural resources and infrastructure platform (currently with $27 billion in assets under management and 95 active portfolio companies), consisting of International Energy, North American Energy, North American Power and Global Infrastructure.

Media Contacts

London          
Rory Macmillan
roderick.macmillan@carlyle.com
Phone: +44 20 7894 1630

US
Christa Zipf
Phone: +1-212-813-4578
Christa.Zipf@carlyle.com

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Ardian Infrastructure signs 10-year power purchasing agreement with Skellefteå Kraft

Ardian

Stockholm, 1st October 2019 – Ardian, a world-leading private investment house, and Skellefteå Kraft, the North Swedish municipal power company, today announced the signing of a 10-year green power purchase agreement (PPA). Financial details are not disclosed.

The PPA will see Skellefteå Kraft, one of Sweden’s largest energy producers, purchase approximately one third (250 GWh) of the wind power production of the Åndberg wind farm, located in Åndberg/Härjedalen, Sweden, for 10 years. This wind power amounts to the energy need of 50,000 electrically heated households in Sweden.

Ardian acquired the wind farm in February this year for €300 million. The wind farm, which is currently in construction in a project led by OX2 and will be ready in 2022, is one of the largest renewable energy developments in the Nordics, with capacity exceeding 280 MW. The Åndberg wind farm is one of three current wind power investments managed by Ardian’s new sustainable energy investment platform, eNordic.

Ardian Infrastructure’s portfolio in the Nordics, which already includes two wind farm investments in Norway and Sweden, will now exceed 400 MW of gross capacity, corresponding to the yearly energy consumption of more than 600,000 electric vehicles.

Eero Auranne, CEO, eNordic, says: “With this agreement we establish a long-term partnership with Skellefteå Kraft to supply locally generated green power to consumers. It demonstrates the value of strong local cooperation and the commercial viability of green energy. We look forward to continue working with Skellefteå Kraft as we build out our sustainable energy platform with further investments in the region”.

Simo Santavirta, Head of Asset Management, Ardian Infrastructure, says: “This achievement perfectly illustrates our hands-on asset management approach and the industrial expertise brought by eNordic, our local management team. As a leading investor in sustainable energy, we see significant growth potential in supporting the rapid transition currently underway in the Nordics”.

Stefan Forsgren Acting Business Area Director, Power Systems, Skellefteå Kraft, says: “As one of Sweden’s largest energy companies we have a huge responsibility to drive the transition towards a more sustainable society. We see investments into new windfarms as an important part of this transition and are excited to together with eNordic and Ardian make this new windfarm in Sweden a success, while at the same time ensuring that our customers get access to large sources of sustainable energy”.

eNordic, which is the Nordic’s first sustainable energy platform, brings together Ardian’s global investment expertise and transaction ability, with the sector knowledge and local experience of leading domestic executives Eero Auranne and Thomas Linnard.

Since 2007, Ardian Infrastructure has created a sustainable energy portfolio in nine countries around the world totaling 3 GW, including Skyline Renewables in the US (800 MW) and two joint-venture platforms in Italy (460 MW). Ardian Infrastructure’s investment in Kallista Energy, which Ardian sold in 2018, created one of the largest renewable energy platforms in France. Ardian is committed to fighting against climate change and actively seeks to reduce the greenhouse gas emissions of its portfolio companies with a view to build a sustainable economy.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.

Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 620 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT ENORDIC

eNordic is the Nordic’s first sustainable energy platform, formed by a partnership between Ardian, a world-leading private investment house, and leading domestic industry executives.

Through a local, responsible and agile investment approach, eNordic enables the transformation of the energy sector through long-term partnerships with those that develop or operate sustainable energy projects in the Nordics.

It invests in opportunities in wind, biomass, hydro and district heating, in addition to traditional energy assets that have the potential to be transformed or managed in a particularly sustainable way.

eNordic is based in Sweden and Finland, with local teams operating throughout the Nordics region.

ABOUT SKELLEFTEÅ KRAFT

Skellefteå Kraft is one of Sweden’s largest energy producers, generating wind-power, water-power, heating and bio-energy. Our goal is a Sweden running on 100 % renewable energy. That is why we only sell 100 % renewable energy and put as much as we can into investments and research. It’s going to be alright.

PRESS CONTACTS

Ardian/eNordic
Headland
CARL LEIJONHUFVUD
cleijonhufvud@headlandconsultancy.com
+44 20 3805 4827
Skellefteå Kraft
Stefan Forsgren, Affärsområdeschef Kraftsystem, Skellefteå Kraft

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The Carlyle Group Launches Boru Energy With Oil Industry Veterans Aidan Heavey and Tom Hickey

Carlyle

Boru Energy will target acquisitions of up to $1 billion, focussing on oil and gas opportunities across Sub-Saharan Africa

LONDON – Global investment firm, The Carlyle Group (NASDAQ:CG), announced today that it has agreed to partner with Aidan Heavey and Tom Hickey, through Boru Energy, a new platform that will target acquisitions of oil & gas assets across Sub-Saharan Africa. Aidan Heavey and Tom Hickey are well-regarded industry veterans with extensive investment experience investing in African oil & gas assets.

Boru Energy’s investment goal will be to assemble a portfolio of primarily non-operated interests in oil & gas production assets. The potential portfolio will be spread across several Sub-Saharan Africa countries and will consist of assets with significant commercialisation potential and where the operator is a high quality national, international or independent oil and gas company.

Funding for potential investments will come from Carlyle International Energy Partners, L.P. (CIEP), a fund that focuses on oil and gas exploration & production, midstream, and refining and marketing in Europe, Africa, Latin America and Asia. CIEP first invested in Africa in 2017, when Carlyle-backed Assala Energy acquired Shell’s onshore assets in Gabon. Boru Energy will benefit from the strong experience and industry expertise Carlyle has in this region and globally. This investment is led by Managing Director and Head of CIEP Marcel van Poecke and Managing Director Bob Maguire.

Aidan Heavey is the founder and former Chairman and CEO of Tullow Oil PLC, an Africa-focused exploration and production company listed on the London Stock Exchange. Under Heavey’s leadership, Tullow grew into a FTSE 100 company with production of over 80,000 barrels of oil equivalent per day. Tom Hickey was CFO of Tullow Oil between 2000 and 2008, where he worked closely with Mr Heavey, and has since held various management positions in the oil & gas industry.

Marcel van Poecke, Managing Director, and Head of the CIEP team, said: “Carlyle are pleased to partner with Aidan Heavey and Tom Hickey, both of whom have proven track records of successfully growing significant energy investments.  We look forward to providing them with support and capabilities in order to help Boru Energy as it builds a successful platform for investing in oil & gas opportunities across Sub-Saharan Africa.”

Aidan Heavey commented: “Boru Energy will build on our team’s experience and commitment to investing in Africa.  We will seek to invest to secure and increase production levels, extend field life cycles and support partners and governments to achieve long term, sustainable growth and create value.  We are committed to achieving best-in-class safety, environmental, social performance and transparent stakeholder partnerships. We look forward to working with Carlyle, future industry partners and our team on this exciting opportunity.”
For More Information:

The Carlyle Group:
Rory Macmillan
Roderick.Macmillan@carlyle.com
+44 (0) 207 894 1630

 

About the Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $223 billion of assets under management as of June 30, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 33 offices across six continents. www.carlyle.com

About Carlyle’s Energy Platform

Carlyle has constructed a broad-based global energy, natural resources and infrastructure platform (currently with $27 billion in assets under management and 95 active portfolio companies), consisting of International Energy, North American Energy, North American Power and Global Infrastructure.

About CIEP

Established in May 2013, the CIEP team focuses on oil and gas exploration and production mid- & downstream, refining and marketing and oil field services in Europe, Africa, Latin America and Asia. The CIEP team focuses on transactions where it has a distinctive competitive advantage and can create tangible value for companies in which it invests, through industry specialization, deployment of human capital and access to The Carlyle Group’s global network. The team operates primarily from offices in London while leveraging Carlyle’s local offices to pursue opportunities across Europe, Africa, Asia and Latin America and is reinforced by The Carlyle Group’s regional fund teams and global investment professionals.

The CIEP team consists of 16 investment professionals, all with extensive international oil and gas industry investment and operational expertise. In addition to Marcel van Poecke, it includes Managing Directors Bob Maguire and Joost Dröge, both industry veterans with 55 years’ combined successful energy investing experience, as well as Paddy Spink, Senior Advisor to CIEP, with 35 years’ upstream experience in Africa, Latin America & Europe.

About Aidan Heavey

During his 33-year tenure at Tullow, Heavey developed Tullow into a company that maintains 80 exploration and production licenses in 15 countries in South America and Africa. Tullow is listed on the London, Irish, and Ghana Stock Exchanges. In 2017, Heavey stepped down as CEO of Tullow; however, he remained chairman until July 2018.

Tullow expanded in the 2000s through a series of acquisitions, most prominently the acquisition of Energy Africa in 2004, which doubled the company’s size by expanding Tullow’s production and exploration capabilities across Africa. In 2007, Tullow discovered and began production at the Jubilee oilfield—one of the largest oilfields in Africa—off the coast of Ghana. The company has continued to grow and had an exploration success rate of 70 percent, most recently offshore Guyana.

About Tom Hickey

Tom Hickey is an experienced oil & gas executive with more than 20 years of experience, including more than 10 years serving as a CFO at oil and gas exploration and production companies. From 2000 to 2008, Hickey was the CFO of London-headquartered E&P company Tullow. While at Tullow, Hickey oversaw the company’s USD 1.1 billion acquisition of Hardman Resources in 2007 and USD 570 million acquisition of Energy Africa in 2004. From 2011 to 2016, Hickey served as the corporate development officer and CFO of the Dublin-headquartered oil and gas exploration and production company PetroCeltic International PLC.

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Ardian Infrastructure acquires two photo-voltaic plants in Peru from Solarpack

Ardian

 

The transaction highlights Ardian’s commitment to investment in renewable energy and reinforces its presence in Latin America

Paris, September 20, 2019 – Ardian, a world leading private investment house, has acquired a 49% stake in two photovoltaic (PV) plants in Tacna and Panamericana, in southern Peru, from Solarpack, the Spanish multinational integrated management company. The deal is part of Ardian’s ongoing commitment towards investing in renewable energy.
The plants have a combined capacity of 48.6MW after repowering. The transaction is the latest development in Ardian’s successful partnership with Solarpack since 2016, when Ardian acquired four other Solarpack photovoltaic plants in Chile and Peru. Solarpack will continue to handle the plants’ operations and management services.
The investment cements Ardian’s position as a leading player in the renewable energy sector and will bring Ardian Infrastructure’s total installed renewable energy capacity to nearly 3GW across wind, solar, hydro and biomass in Europe and the Americas. Investing in energy renewable assets is part of Ardian commitment to fighting against climate change and building a sustainable economy.
Juan Angoitia, Senior Managing Director at Ardian Infrastructure, said: “This investment is a significant milestone in strengthening both our commitment to sustainability and our presence in Latin America, an increasingly important global hub for renewable energy. Our investment in Tacna and Panamericana expands our portfolio of renewable energy assets and strengthens our partnership with Solarpack and the high quality assets investment opportunities they provide.”
Pablo Burgos, CEO of Solarpack, added: “The global need for renewable energy sources is increasing day-by-day, so our ability to continue to build, develop and operate solar plants at pace is more important than ever. Our ongoing industrial partnership with Ardian has been beneficial with a long-term investment approach and we look forward to continue working closely with Ardian.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 620 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT SOLARPACK

Solarpack is a Spanish multinational company specializing in the development, construction and operation of solar PV plants. The company’s team of more than 100 professionals is developing a pipeline of more than 1.2 GW. The company has commissioned 35 MWp in five sites in Spain, 37 MWp in Chile, 26 MWp in Uruguay and 62 MWp in Peru. Solarpack performs the operation and maintenance of the plants it develops, and manages own and third-party assets for a total of 230 MW.

PRESS CONTACTS

ARDIAN
Headland
Viktor Tsvetanov

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Energy Transfer to acquire Semgroup

Alinda

Energy Transfer LP (NYSE: ET) has announced that it has entered into a definitive merger agreement whereby Energy Transfer will acquire SemGroup Corporation (NYSE: SEMG) in a share and cash transaction valued at approximately $5 billion.

This represents a 65% premium to the closing price of SemGroup shares as of September 13, 2019.

The transaction is expected to close in late 2019 or early 2020, subject to the approval by SemGroup’s stockholders and other regulatory approvals.

Energy Transfer’s acquisition of SemGroup will increase Energy Transfer’s scale across multiple regions.

Energy Transfer will significantly strengthen its crude oil transportation, terminal and export capabilities with the addition of the Houston Fuel Oil Terminal (HFOTCO), a world class crude oil terminal on the Houston Ship Channel with 18.2 million barrels of crude oil storage capacity, five deep-water ship docks and seven barge docks. HFOTCO is supported by stable take-or-pay cash flows from diverse, primarily investment grade customers. Energy Transfer is also announcing its plans to construct a new crude oil pipeline, the Ted Collins Pipeline, to connect HFOTCO to Energy Transfer’s Nederland Terminal.

Energy Transfer’s crude oil assets on the Gulf Coast will also benefit from SemGroup’s interest in the Maurepas Pipeline and its connections to the St. James refining complex.

Energy Transfer owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with a strategic footprint in all of the major domestic production basins.

Investment funds managed by Alinda Capital Partners sold HOFTCO to SemGroup in June 2017. Following the September 2019 announcement by Energy Transfer, the funds have sold their interest in SemGroup shares.

The funds managed by Alinda Capital Partners continue to hold an interest in the Maurepas Pipeline, acquired in August 2018.

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EnerSys to acquire NorthStar from Altor

Altor

EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, has entered into an agreement to acquire N Holding AB, the parent company of NorthStar, from Altor Fund II. Headquartered in Stockholm with production in Springfield, Missouri, NorthStar designs, manufactures and distributes industrial premium batteries for the Telecom and Transportation segments.

“In line with our previously disclosed strategy to increase sales of premium products we are pleased to announce the acquisition of NorthStar, which will enable EnerSys to dramatically accelerate our production capacity expansion for TPPL batteries” said David M. Shaffer, President and Chief Executive Officer of EnerSys.

NorthStar was founded in 2000 and was acquired by Altor in 2007, as the “industrial start-up” at that time wanted a partner to expand its offering, client base and target markets to grow and move away from dependencies. Transformations like that takes time and much has been accomplished today. It is another testament to the ownership philosophy of Altor – to partner with great entrepreneurs and to take the next step of the journey in every aspect.

“NorthStar is another fine example of our longer ownership horizon. Starting twelve years ago when NorthStar had one product, one major customer and one production plant. Today, NorthStar is transformed with a broadened product offering, launched the industry’s first IoT connected battery, expanded telecom client base and expanded into the transportation vertical, with a strong blue-chip customer base” Claes Ekström at Altor comments. “We believe EnerSys is an excellent new owner for this great company”.

Altor was advised by DC Advisory (M&A) and Wigge & Partners (Legal).

For more information, please contact:
Tor Krusell, Head of Communications Altor, +46705438747

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in more than 60 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Dustin, Byggmax, Navico, Infotheek, Orchid, Wrist Ship Supply, Sbanken, Rossignol, Helly Hansen, SATS and Carnegie Investment Bank. For more information visit www.altor.com.

About EnerSys®
EnerSys, the global leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Motive power batteries and chargers are utilized in electric forklift trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunication and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions including medical, aerospace and defense systems. With the recent Alpha acquisition, EnerSys provides highly integrated power solutions and services to broadband, telecom, renewable and industrial customers. Outdoor equipment enclosure products are utilized in the telecommunication, cable, utility and transportation industries, and by government and defense customers. The company also provides aftermarket and customer support services to its customers in over 100 countries through its sales and manufacturing locations around the world. More information regarding EnerSys can be found at www.enersys.com.

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Partners Group to acquire 50% stake in Latin American power generation platform, EnfraGen

Partners Group

Partners Group, the global private markets investment manager, has agreed to acquire a 50% stake in EnfraGen, LLC (“EnfraGen” or “the Company”), a leading developer, owner and operator of specialized power generation assets in Latin America, on behalf of its clients. Glenfarne Group (“Glenfarne”), the US-based industrial owner and operator that founded EnfraGen, will retain the remaining 50% of the business. Part of Partners Group’s capital injection will fund EnfraGen’s expansion into Colombia with the acquisition of Termoflores, the country’s second largest back-up power generation asset and one of its largest combined cycle gas turbine assets.

Formed in 2015, EnfraGen specializes in providing back-up power for grid stability and baseload renewable power generation in investment grade countries in Latin America through its existing businesses, Prime Energía and Fontus. Prime Energía focuses on grid stability with a portfolio comprising eight thermal back-up power generation assets in Chile and the newly acquired Termoflores asset in Colombia. Fontus focuses on baseload renewable assets with an expanding portfolio of solar assets and three hydropower assets. Including the Termoflores acquisition, EnfraGen will have 1.4GW in total power generation capacity across its platform, plus an executable growth pipeline.

Following the investment, Partners Group and Glenfarne will work closely with EnfraGen’s management team, led by Brendan Duval, EnfraGen CEO and Founding Partner of Glenfarne, to drive forward a number of strategic value creation and growth initiatives. Key areas of focus will include the ongoing development of the Fontus assets in Chile, Colombia, and Panama; executing on the construction of the existing greenfield portfolio; and further expanding the platform via strategic acquisitions in target markets.

Brendan Duval, CEO of EnfraGen, states: “We are pleased to work with Partners Group to pursue our shared vision for EnfraGen as a preeminent power platform focused on grid stability and value-added renewable assets across investment grade Latin America. We see a robust pipeline of opportunities to further build EnfraGen’s portfolio, and look forward to combining Glenfarne’s and Partners Group’s expertise and innovation to achieve this vision.”

Edward Diffendal, Managing Director, Private Infrastructure Americas, Partners Group, adds: “Latin America has experienced a rapid expansion of renewable energy sources, creating an increased need for grid stability. EnfraGen operates in a particularly attractive segment of this market, which benefits from structural renewable tailwinds and receives stable cash flows under long-term established capacity contracts. Back-up power generators such as EnfraGen play a critical role in reducing load imbalance in Latin America, and EnfraGen also provides reliable renewable energy to local communities.”

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Altor divests Enhanced Drilling to Energy Ventures Private Equity

Altor

On July 15, the Altor 2003 Fund and Altor Fund II (jointly “Altor”) signed and closed the sale of Enhanced Drilling Holding AS (“Enhanced Drilling”) to Enhanced Well Technologies AS, a company owned and controlled by EV Private Equity and a major global oil company. EV Private Equity has been one of the most active investors in the oil and gas sector in recent years, and will together with its co-investor bring significant industry expertise and experience to the company, contributing to the growth and success of Enhanced Drilling. “We are happy that Enhanced Drilling’s leading technology has been recognized by the sector specialist EV Private Equity team and their co-investor, and we believe that the company has an exciting future ahead of it.” says Eivind Reiten, Chairman of Enhanced Drilling for multiple years and also an advisor to the Altor Funds. Altor initially invested in AGR, from which Enhanced Drilling was spun out, in 2004.

About Enhanced Drilling
Enhanced Drilling supplies innovative technical solutions and services to the global offshore industry. It has offices and facilities in Norway, Australia, Malaysia, Azerbaijan, Canada, the UK and the USA. For further information, please visit the Enhanced Drilling website at enhanced-drilling.com.

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 4.2 billion in more than 60 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Dustin, Byggmax, Navico, Infotheek, Orchid, Wrist Ship Supply, Sbanken, Rossignol, Helly Hansen, SATS and Carnegie Investment Bank. For more information visit www.altor.com.

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DIF Capital Partners acquires 203MW wind portfolio in the US

DIF

DIF Infrastructure Fund V (“DIF”) is pleased to announce financial close of the 100% acquisition of MIC Renewable Energy Holdings LLC’s indirect interest in two operating wind projects located in the United States with a gross capacity of 203MW.

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Idaho Wind Partners (Idaho) and Brahms Wind (New Mexico) have been operational since 2011 and 2014, respectively. Both projects have long-term power purchase agreements with investment grade off-takers. The projects will be operated and managed by Longroad Energy Services under asset management and operations & maintenance agreements.

This investment fits well within DIF’s mandate to acquire infrastructure and renewable energy assets and adds to DIF’s existing portfolio of renewable energy assets in the United States.

Paul Huebener, Partner and DIF’s Head of Americas added: “We are pleased to add these established wind projects to our portfolio of long-term, contracted assets. We believe the projects will provide attractive returns and stable cash flows to our investors.”

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has a team of over 125 professionals, based in nine offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Thijs Verburg, Director
Email: t.verburg@dif.eu

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