CVC Fund VIII to acquire 50% of Gridspertise, an Enel Group company focused on digital transformation of power grids

CVC Capital Partners Fund VIII is pleased to announce the signing of an agreement with Enel Group to acquire 50% of Gridspertise, a leading smart grid OEM serving electricity infrastructure operators owned by the Enel Group through Enel Grids.

Gridspertise is an energy transition enabler, providing essential hardware, software and services to electricity infrastructure operators. Its products help customers transform traditional electricity distribution grids into smart grids and respond to the steep growth in power consumption demands.

Thanks to its high-quality products and innovative technology, Gridspertise is well-positioned in a large and global market of around €30 billions, with market leader positions in Italy, Brazil, Latin America and Spain and with strong global ambitions.

The product offering of Gridspertise includes smart electricity meters, smart grid devices – namely devices installed at a higher level of the electricity value chain which record energy flows and automate energy dispatching decisions – and software and services to enable these systems to function.

Quotes

Gridspertise is a unique opportunity to leverage the growth of energy transition incentives offered by authorities worldwide

Jiri ZrustPartner, Head of Infrastructure at CVC

Andrea Ferrante, Senior Managing Director at CVC, said: “We are excited about this investment and look forward to working closely with Enel and the management team led by Robert Denda to further improve Gridspertise’s go-to-market capabilities, diversify the current geographical footprint and optimise operational performance.”

“Our global expertise in the space of energy infrastructure, with investments in Naturgy, PPC and PKP Energetyka, has been crucial to position ourselves as a reliable partner for Enel in Gridspertise. Gridspertise is a unique opportunity to leverage the growth of energy transition incentives offered by authorities worldwide”, added Jiri Zrust, Partner, Head of Infrastructure at CVC.

The transaction is expected to close in Q4 2022 and is subject to customary closing conditions.

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DIF Capital Partners invests in leading global renewable energy platform Qair

Qair, a fast growing renewable energy platform company, and DIF Capital Partners, a leading global independent investment manager, are pleased to announce that they have signed a partnership agreement whereby DIF, through DIF Infrastructure VII, will invest in the company to accelerate its growth and portfolio build out.

Qair is an independent power producer that develops, owns, and operates multi-technology renewable energy projects. The platform is focused on a wide range of technologies including onshore and offshore wind, utility scale solar, energy from waste, hydroelectricity, (battery) storage, hydrogen production, as well as tidal energy. Qair is a global player with a presence in 20 countries. The majority of its activities are based in France, Poland, Germany, Italy, Spain and Brazil. The company has 550 employees and is headquartered in Paris, France.

Qair has an operational portfolio of c. 1 GW, which is mainly comprised of (onshore) wind (c. 75%) and solar projects, as well as a development pipeline of 25 GW. The company benefits from strong development capabilities and foresees to add around 4 GW of renewable projects over the next five years.

Louis Blanchard, CEO of Qair: “With my partners Jean Marc Bouchet and RGreen, and the broader Qair team, we are happy to welcome DIF Capital Partners and join forces to pursue the development of our group’s strategy. We are confident that with the entrepreneurial spirit that drives us both, DIF will offer us the best support in our mission to accelerate the energy transition, especially within the current complex energy market.”

Gijs Voskuyl, Partner at DIF and Head of Investments for DIF Infrastructure VII adds: “DIF is delighted to partner with Qair and its management team and support them in their next phase of growth. We believe the company has built up an excellent track record and an impressive pipeline across a wide range of renewable energy sectors and countries and is very well positioned to play a leading role in the continuous decarbonization of the global economy”.

Qair was advised by August Debouzy, PSP Avocats, NM Advisory, 8 Advisory, PwC, Niddam-Drouas and Drooms. DIF was advised by Astris Finance, KPMG, H3P, Clifford Chance, UL, DNV, Baringa and Marsh.

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 14 billion in assets under management across eleven closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

  • DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.
  • Traditional DIF funds, of which DIF Infrastructure VII is the latest vintage, target core and build-to-core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).

DIF Capital Partners has a team of over 200 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

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

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DIF Capital Partners acquires a majority stake in French EV charging operator Bump

DIF

DIF Capital Partners (“DIF”) is pleased to announce that DIF Core-plus Infrastructure Fund III has closed the acquisition of a 55% stake in Bump SAS (“Bump” or the “Company”), a Paris-headquartered Charge Point Operator (“CPO”) that designs, installs, operates and owns Electric Vehicle (“EV”) charging infrastructure.

The Company has a unique positioning by securing mid to long term contracts primarily with EV fleet operators, both in fleet depots and in third party car parks mostly in Paris and Lyon. Founding shareholders include the management team, as well as Otoqi, a mobility services platform, and Firalp, a building contractor specialized in electrical & digital networks. All founding shareholders will remain invested in the Company.

Since inception Bump managed to develop a fast growing existing EV charging infrastructure base, with an expected portfolio of over 1,700 charge points installed or signed by the end of 2022. DIF’s investment will support the Company in significantly growing the portfolio of charge points with the ambition to be one of France’s market leaders in the fast growing B2B segment.

France is a key target market for DIF and is served locally by its 13-person strong team in Paris. The investment in Bump is DIF’s second investment in the sector after the acquisition of a majority stake in Plugit Oy, a leading Finnish EV charging infrastructure company, last year.

Willem Jansonius, Partner and Head of Investments for the DIF CIF strategy, says: “DIF believes that the electrification of transportation will play a critical role in reducing carbon emissions. We are impressed by the management team of Bump and what the Company has realised to date. We are excited to invest alongside the existing shareholders to speed up the rollout of charging infrastructure across France, which is expected to become the second largest EV charging market in Europe”.

François Oudot, CEO of Bump, adds: “We are excited about this opportunity to accelerate our growth and tap the booming French EV market. Partnering with DIF will enable us to secure long term financial resources and benefit from their experience in supporting large capex roll out programs”.

Bump was advised by Celsius Avocats (legal), Finergreen (M&A) and E-Cube (commercial). DIF was advised by Gide (legal and tax), H3P (M&A), Boston Consulting Group (commercial), DNV (technical), Marsh (insurance) and PwC (finance and model audit).

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 14 billion in assets under management across eleven closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

  • DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.
  • Traditional DIF funds, of which DIF Infrastructure VI is the latest vintage, target core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).

DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

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

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Ardian closes its second-generation Americas Infrastructure fund at US$2.1bn

Ardian

Latest fund demonstrates Ardian’s leadership in the infrastructure investment mid-market segment in America.

Ardian, a world-leading private investment house, today announced the final closing of US$2.1bn for its latest Americas infrastructure fund – Ardian Americas Infrastructure Fund V (AAIF V). Continuing its successful investment strategy, AAIF V will invest in high-quality, mid-market US and other OECD American essential infrastructure assets in the telecommunications, transportation, and energy transition sectors.

The Ardian Infrastructure team now has over US$21bn assets under management across the globe. AAIF V was significantly oversubscribed, exceeding its hard cap of US$2.0bn, and significantly larger than the inaugural AAIF IV which raised US$800mm in 2018.

The successful fundraise attracted over 60 investors from 17 countries across the Americas, Europe, Middle East and Asia, comprising major pension funds, insurance companies, sovereign wealth funds, Fund of Funds, endowments and high-net-worth investors. With a mix of returning investors, who on average doubled their previous commitments to the strategy, and new investors, the successful fundraising of AAIF V demonstrates the growing appetite for Ardian’s Americas infrastructure and asset management strategies.

“We are thankful for the support of our new and existing investors.  The success of our latest fundraise clearly demonstrates their continued trust in our approach. We will continue to prioritize long-term value creation through our disciplined industrial approach.” Mathias Burghardt, Member of the Executive Committee and Head of Ardian Infrastructure

“Closing a fund that is more than 2.5 times larger than its predecessor is an important achievement for the team and validation of our investment strategy in the Americas. The amount recommitted by our existing investors is further testament to the strong performance of the previous generation.” Stefano Mion, Co-Head of Ardian Infrastructure Americas

“The market opportunity for high-quality, mid-market infrastructure assets is compelling, and even more so with the powerful tailwinds from the Inflation Reduction Act. Our ability to leverage Ardian’s strong proprietary deal flow along with our industrial approach positions us exceptionally well in the current environment.” Mark Voccola, Co-Head of Ardian Infrastructure Americas

Since Ardian launched its dedicated Americas infrastructure fund in 2018, the team has deployed more than US$1bn in six investments across the energy, renewables and transportation sectors. It also grew the headcount of Ardian Americas infrastructure investment team to 13 over the past four years.
The team will continue to leverage its international network of industrial partners, construction companies and infrastructure operators, while continuing its successful approach of developing long-term relationships with local stakeholders, communities and regulators.

The fund is already over 15% committed via an infrastructure transaction acquiring Unison, a leading buyer and manager of telecom site properties in the U.S., to build a global platform of wireless infrastructure assets.

Ardian is an international leader in essential infrastructures. The Infrastructure team, which comprises more than 60 investment professionals worldwide including financial experts, operational engineers and data scientists, manages more than US$20bn. Ardian Infrastructure believes that bringing technological innovation is a key element of value creation through the increase of the assets operational efficiency. Ardian is also a pioneering manager in decarbonizing infrastructure assets in line with global climate change agreements. As part of its commitment, Ardian is developing a major renewable energy portfolio and introducing energy efficiency policies across all of its portfolio companies.

ABOUT ARDIAN

Ardian is a world leading private investment house, managing or advising $141bn of assets on behalf of more than 1,300 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. We also provide a specialist service for private clients through Ardian Private Wealth Solutions. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 900+ employees, spread across 15 offices in Europe, the Americas and Asia, are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

Media Contacts

ARDIAN US

THE NEIBART GROUP

ardian@neibartgroup.com

 

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Oakley invests in Phenna Group and CTS Group

Oakley

Oakley Capital (“Oakley”) is pleased to announce that Fund V is investing in leading Testing, Inspection, Certification, and Compliance (“TICC”) platform, Phenna Group (“Phenna”), in partnership with co-founders Paul Barry (CEO) and David Harrison (CFO) who are reinvesting into the business.

In parallel, Oakley has also acquired CTS Group (“CTS”), a leading provider of testing and inspection services in the U.K., focussed on the infrastructure market. CTS will become part of Phenna Group upon completion of both transactions.

Phenna Group

Formed in 2018, Phenna has rapidly emerged as one of the fastest growing TICC groups globally, with revenue growth of circa 100% CAGR over the last three years. Today the group comprises 31 independent businesses which provide specialist TICC services across infrastructure, built environment, niche industrial, pharmaceutical and certification and compliance divisions. The business operates across 12 countries in four continents.

Quote Paul Barry

We were attracted to Oakley’s deep expertise in M&A execution and integration, as well as their strong track record in helping businesses to internationalise at scale. As we look to the future, we’re excited to be working with them and together delivering on our mission to grow Phenna into a leading global TICC player.

Paul Barry

Founder and CEO — Phenna Group

CTS Group is a leading provider of testing, inspection and geoengineering consulting services in the U.K., primarily focussed on long term civil infrastructure projects. The business has more than doubled revenues over the last three years through organic growth and targeted acquisitions.

CTS will become part of Phenna Group upon completion of both deals. The existing CTS management team will continue to lead the business within the wider group. CTS and Phenna Group offer complementary services. Their combined UK wide network of laboratories, site based services and geotechnical expertise will ensure customers benefit from an expanded service offering.

Phil Coles, CEO of CTS Group, commented: “Oakley’s approach and their track record in driving business growth through M&A complimented that of CTS and our incredible growth story to date. The opportunity that then presented itself to continue this within Phenna, with the immense success that Paul and the team have had to date, was ideal and provides a great future for the business as part of a larger, incredibly ambitious, international group.”

Quote Peter Dubens

Phenna Group is exactly the kind of entrepreneurial disruptor that Oakley was founded to support. We are pleased to have been able to help them with the acquisition of CTS Group, one of the pre-eminent testing brands serving UK infrastructure customers. We believe Phenna has the potential to become one of the leading TICC groups in the world and look forward to supporting them to achieve that vision.

Peter Dubens

Founder and Managing Partner — Oakley Capital

Market Dyanmics

The global TICC market is worth over £200 billion and remains highly fragmented with the top 10 groups accounting for only 12% of the market. The market is forecast to grow at over 5% p.a. driven by regulatory trends, increased outsourcing, and exposure to growing end markets. Customer demand is typically non-discretionary due to mandatory testing requirements. Customers are highly loyal. Phenna is diversified across multiple end markets and geographies.

Phenna Image
Phenna Group – one of the fastest growing TICC groups globally.

Phenna has emerged as the strategic acquirer of choice for best of breed specialist TICC companies due to its unique partnership approach, which allows leading TICC entrepreneurs to continue to operate their businesses whilst also having all the benefits of being part of a larger global business. Oakley’s investment will allow Phenna to continue to grow rapidly into new verticals and geographies.

Oakley was advised by DC Advisory, Simpson, Thacher & Bartlett, PWC, BCG and KPMG in connection with this transaction.

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Partners Group to expand the shareholder base of USIC, the leading North American provider of utility location services; Kohlberg & Company to acquire a 50% stake

Partners Group

New York, US; 10 August 2022

  • Partners Group will retain a 50% co-lead interest in USIC
  • Together, Partners Group and Kohlberg will implement new value creation initiatives
  • The transaction values USIC at an enterprise value of USD 4.1 billion

Partners Group, a leading global private markets firm, is, on behalf of its clients, expanding the shareholder base of United States Infrastructure Corporation (“USIC” or “the Company”), the leading North American provider of utility location services. Kohlberg & Company (“Kohlberg”) is acquiring a 50% stake in USIC and Partners Group will retain a 50% co-lead interest. Kohlberg was joined in this investment by a group of new partners that includes funds managed by Neuberger Berman. The transaction values USIC at an enterprise value of USD 4.1 billion.

Founded in 2008 and headquartered in Indianapolis, USIC is a leading provider of outsourced “utility locate” services, which involve locating, identifying, and marking sub-surface utility infrastructure such as pipes, cables, and fiber. These services are provided on behalf of public utilities that are required by law to ensure underground infrastructure is marked correctly before ground is broken on any new project. USIC currently serves over 1,300 customers in the US and Canada across six utility markets: cable, telecom, electric, gas, water, and sewer. It has a workforce of 9,000 technicians that perform 80 million locates each year. The demand for USIC’s services is set to rise due to higher excavation activity following President Biden’s Infrastructure Bill, new 5G densification initiatives, increased awareness of the importance of conducting locates, and a shift to outsourcing on the part of utilities.

Since acquiring USIC in 2017, Partners Group has installed an entrepreneurial Board that has helped transform the Company and drive strong organic growth, with EBITDA increasing 77% in the last five years. Key value creation initiatives have included investing in technician training, launching new tools to improve productivity and operational performance, and capturing pricing adjustments and improved contract terms. Partners Group also introduced a program to improve USIC’s approach to health & safety, which has led to technician motor vehicle accidents falling by a third and field injuries and lost-time incident rates halving. Partners Group and Kohlberg will implement new value creation initiatives to further build on these foundations, including investing in sales and digital capabilities.

Mike Ryan, Chief Executive Officer, USIC, comments: “Underlying excavation demand has remained stable for decades, driven by routine infrastructure maintenance as well as commercial and residential construction, and we are now looking ahead to a new period of market growth. USIC’s national scale, fast response times, and reputation for quality positions us well to capitalize on this growth. Partners Group has been instrumental in transforming USIC’s services and we are delighted to continue working with the firm, while welcoming Kohlberg on board.”

Joel Schwartz, Partner, Co-Head Private Equity Services Industry Vertical, Partners Group, says: “USIC has a strong, resilient business model that is underpinned by consistent demand from a blue-chip customer base and long-term contracted cashflows. Our thematic research shows the locating services market is experiencing growth tailwinds and we have conviction in USIC’s future prospects, as demonstrated by our ongoing commitment to the business. Given the success of our previous value creation initiatives, we also have a deep understanding of what levers can be pulled to further transform USIC.”

Benjamin Mao, Partner, Head of Infrastructure Services, Kohlberg & Company, says: “We are honored to have the opportunity to work alongside Partners Group to support Mike and the USIC management team in its exciting next chapter of growth. USIC is uniquely positioned as a leading provider of mission-critical safety services to utilities and telecommunications customers, who are undergoing periods of significant growth and transformation driven by grid modernization, continued technological innovation, and further accelerated by infrastructure stimulus.”

Partners Group was advised by Harris Williams, Bank of America Corporation, and Ropes & Gray LLP. Kohlberg was advised by Goldman Sachs, Houlihan Lokey, and Paul, Weiss, Rifkind, Wharton & Garrison LLP.

Ratos company Presis Infra awarded new contracts valued at NOK 2 billion

Ratos

During the first half of 2022, the Ratos company Presis Infra, which specialises in maintenance of critical infrastructure, ferry quay operations and maintenance, and rockfall protection in Norway, was award new contracts amounting to NOK 2 billion. A total of eight new contracts were signed with existing customers, with terms from 2022 to 2027. One of the contracts is a so-called green contract, where a proven ability to reduce the project’s climate impact is an important factor in the procurement process, along with price and understanding of the assignment.

“We are delighted that Presis Infra’s performance in the first half of 2022 was so positive. Maintenance of critical infrastructure will play an important role in the future, and Presis Infra has what it takes to succeed and the expertise to do so in a cost-efficient and sustainable manner,” says Christian Johansson Gebauer, Board member of Presis Infra and President Business Area Construction & Services, Ratos.

The contracts were signed with various Norwegian municipalities and the Norwegian Public Roads Administration (NPRA), and the projects encompassed by the contracts are spread throughout Norway.

“We are proud of the confidence our client has shown in us and look forward to continuing our productive partnership. We are particularly proud to have secured the two green contracts for road operations maintenance and announced in the Norwegian market in recent years,” says Eivind Iden, CEO, Presis Infra.

Performance since Ratos acquired Presis Infra
Ratos acquired 75% of Presis Infra in 2021 as a platform investment in the expansive future industry of infrastructure maintenance. Since the acquisition, the company has continued to deliver a positive performance, with sales of NOK 1,993m and EBITA of NOK 314m in the last 12 months as of the end of the first quarter of 2022.

For more information and media, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 14 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 25 billion in net sales. Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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DIF Capital Partners closes acquisition and refinancing of Grupo Itevelesa

DIF

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure VI has closed the acquisition of Grupo Itevelesa (“Itevelesa” or the “Company”), a market leading provider of vehicle inspection services in Spain with a network of 72 stations nationwide serving ca. 2.3 million customers annually. Simultaneously, DIF has secured a long-term debt financing for the refinancing of the Company and to partially finance the acquisition. The debt financing was fully underwritten by Santander Corporate & Investment Banking which was also involved in hedging the interest rate exposure between signing and completion of the transaction.

Founded in 1982 and headquartered in Madrid, Itevelesa is one of Spain’s largest independent providers of periodical technical inspection services for vehicles, which are conducted under contracts with regional governments of which the majority is concession-based. The Company operates 72 fixed locations and 20 mobile units across 11 autonomous communities; it also provides industrial safety, metrology and environmental inspection services, playing a relevant role in ensuring ESG standards. With the long-term support of DIF, Itevelesa will aim to continue its strong growth path and further consolidation of its relevant market position.

Jesús García Gil, CEO of Itevelesa, said: “It is a pleasure to welcome DIF on board as our new shareholder. We have worked extremely closely with DIF along the last months and I truly believe that it is the ideal partner to support the Company’s growth and diversification business strategy; this transaction ensures that we can continue delivering the highest possible safety and quality service to our customers under the highest ESG standards.”

Gijs Voskuyl, Partner at DIF, said: “We are delighted to have completed the acquisition of Itevelesa. The Company provides a crucial service across Spain under a regulated environment which aligns well with our core strategy. We are looking forward to working closely with the Itevelesa team to deliver a high-quality service to its customers and continue growing in the market.”

DIF has been advised by Cantor Fitzgerald (Financial), Herbert Smith Freehills (Legal), Roland Berger (Commercial), PwC (accounting and tax) and WTW (insurance). Hayfin has been advised by Alantra (Financial) and Linklaters (Legal).

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 11 billion in assets under management across ten closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

  • Traditional DIF funds, of which DIF Infrastructure VI is the latest vintage, target core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).
  • DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.

DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

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

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DIF Capital Partners joins forces with Virya Energy to acquire a strategic position in Dutch green hydrogen developer VoltH2

DIF

DIF Capital Partners (“DIF”), through DIF Infrastructure VI, has acquired an interest in green hydrogen production facilities developer VoltH2 (the “Company”). DIF entered into a strategic partnership with Virya Energy, a leading Belgian renewable energy company, in acquiring a majority stake in the Company, with VoltH2’s founder André Jurres, retaining a meaningful share as well.

The Netherlands based VoltH2 holds permits and secured land plots for two production sites in Vlissingen and Terneuzen, with advanced planning underway for an additional site in Delfzijl as well as a number of early phase development positions. The three most advanced facilities have a capacity of initially 75 MW which can be scaled up to 250 MW. DIF’s and Virya’s involvement enables VoltH2 to realise its first green hydrogen production facilities in the near future and further expand the pipeline.

André Jurres, Managing Director of VoltH2: “This investment attests to the confidence in green hydrogen and in the growth of VoltH2. With the involvement of DIF Capital Partners and Virya Energy, we can anchor VoltH2 locally as well as internationally, achieve our ambitions and play a crucial role in the European energy market and energy transition.”

Gijs Voskuyl, Partner at DIF Capital Partners, adds: “We expect a significant demand increase for green hydrogen in the short and medium term. As an investor with a strong footprint and ongoing focus within the energy transition space, we aim to play a role in this fast growing and capital intensive market and believe VoltH2 as well as Virya Energy are excellent partners to realise these ambitions.”

About VoltH2

VoltH2 focuses on the design, development, construction and operation of green hydrogen facilities in Europe. The first two production facilities are currently being developed in Vlissingen and Terneuzen (the Netherlands). Both are expected to be operational in 2025. At start-up, each facility will produce nearly 2 million kg (1,890 tonnes) of green hydrogen per year. In time, this production will grow with the hydrogen market and will be scaled up. Because of its strategic location within North Sea Port, the end product will be transportable by road, rail and waterways. Local industry will be able to purchase green hydrogen in order to meet its environmental objectives. Recently, the project for a third green hydrogen facility was started in Delfzijl (within Groningen Seaports). VoltH2 is a collaboration between Volt Energy (the company of founder André Jurres), Virya Energy and DIF Capital Partners. www.volth2.com

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 11 billion in assets under management across ten closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

  • DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.
  • Traditional DIF funds, of which DIF Infrastructure VI is the latest vintage, target core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).

DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

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

About Virya Energy

Virya Energy was founded in late 2019 by Colruyt Group and Korys. The energy holding company has shares in Parkwind, Eurowatt, Eoly Energy, Sanchore and recently also in VoltH2.

Virya Energy focuses on the development, financing, construction, exploitation and storage of renewable energy. All of these companies possess a wealth of complementary expertise. By sharing knowledge and enabling them to work together, Virya Energy aims to create economies of scale and take a leading role in the rapidly evolving renewable energy sector. Virya Energy and its subsidiaries worldwide have a capacity of 1 GW of green energy. This includes onshore and offshore wind power and a number of initiatives for green hydrogen such as Hyoffwind.

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InfraVia Capital Partners (“InfraVia”) has reached an agreement with funds managed by Equitix (“Equitix”) to sell Aurora Infrastructure Oy

InfraVia

Aurora is a Nordic infrastructure company that specialises in owning, operating, and upgrading private electricity network infrastructure where reliability and availability are critical to customers operations.

Aurora currently owns the electricity networks at two of Finland’s largest and strategically important industrial sites which represent 6% of Finnish electricity consumption: the AKO network serving the Kilpilahti industrial area, near Porvoo – the largest integrated chemical cluster in the Nordics; and the ATO network in Tornio, serving Outokumpu’s ferrochrome and stainless-steel manufacturing facility –the only fully integrated stainless-steel facility in the world. Aurora’s customers are blue-chip international industrial companies.

Tony Lindroos, CEO of Aurora, commented: “This is a significant milestone in our journey, and is welcome news for everyone at Aurora. Equitix will actively support Aurora’s expansion and investment in the network infrastructure, helping us to continue to deliver industry leading availability and reliability levels for our customers and supporting them in meeting their energy transition plans.”

Bruno Candès, Partner of InfraVia, said: “We have been extremely pleased to accompany Aurora over the last eight years. We have provided the group with a comprehensive set of resources that have paved the way for Aurora’s transformation into a leading independent distribution network in Finland. We are convinced that Equitix will continue the development of Aurora and support its customers to achieve their electrification and energy transition objectives.”

Achal Bhuwania, Chief Investment Officer at Equitix, said: “We recognise the mission critical nature of the Aurora networks for its customer operations. We are delighted to be a part of the future of Aurora and be able to partner with the management team in order to further expand and upgrade what is already a great platform.”

The terms of the transaction are not disclosed and the closing of the transaction is subject to the receipt of customary regulatory approvals.

InfraVia was advised on the transaction by Jefferies International Limited (financial), Roschier (legal), PWC (tax & accounting) as well as Afry (technical).

Equitix was advised by Macquarie Capital, PwC (joint financial advisers) and Linklaters (legal).

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