Tag Archives: infrastructure

Apollo and Santander Partner on a $370 Million Infrastructure Portfolio Financing

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NEW YORK, Dec. 09, 2024 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and Santander today announced that Apollo-managed funds and affiliates have agreed to invest in an approximately $370 million portfolio of infrastructure credit. The transaction was led by Apterra, an affiliate of Apollo founded in 2023 that specializes in innovative financing solutions for infrastructure projects.

Apollo Partner and President of ACT Capital Samuel Feinstein said, “We are pleased to announce this transaction with Santander, which builds on our longstanding relationship and demonstrates the type of bespoke financing solutions that Apollo can provide to our banking partners and corporate clients. We have high conviction in the infrastructure finance opportunity globally given the large capital demands that will continue to drive investment in the sector and see continued opportunity to collaborate with Santander in the space.”

Marcel Patino, Global Head of Private Debt Mobilization at Santander said, “As we continue to execute on our strategy to proactively rotate assets and maximize profitability, we are pleased to partner with Apollo and Apterra on this portfolio transaction. We remain committed to private debt mobilization to generate additional capital for profitable growth as we continue to accelerate our business transformation efforts.”

Over the past five years, Apollo has deployed over $40 billion[i] into energy transition and climate-related investments and actively seeks to grow its platform as capital deployment in these areas of the global economy continues to scale. Across asset classes, Apollo targets deploying $50 billion in clean energy and climate investments through 2027 and sees the opportunity to deploy more than $100 billion by 2030.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2024, Apollo had approximately $733 billion of assets under management. To learn more, please visit www.apollo.com.

About Santander
Banco Santander (SAN SM) is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. At the end of the third quarter of 2024, Banco Santander had €1.3 trillion in total funds, 171 million customers, 8,100 branches and 208,000 employees. Santander Corporate & Investment Banking (Santander CIB) is Santander’s global division that supports corporate and institutional clients, offering tailored services and value-added wholesale products suited to their complexity and sophistication, as well as to responsible banking standards that contribute to the progress of society.

[i] As of June 30, 2024. Deployment commensurate with Apollo’s proprietary Climate and Transition Investment Framework, which provides guidelines and metrics with respect to the definition of a climate or transition investment. Reflects (a) for equity investments: (i) total enterprise value at time of signed commitment for initial equity commitments; (ii) additional capital contributions from Apollo funds and co-invest vehicles for follow-on equity investments; and (iii) contractual commitments of Apollo funds and co-invest vehicles at the time of initial commitment for preferred equity investments; (b) for debt investments: (i) total facility size for Apollo originated debt, warehouse facilities, or fund financings; (ii) purchase price on the settlement date for private non-traded debt; (iii) increases in maximum exposure on a period-over-period basis for publicly-traded debt; (iv) total capital organized on the settlement date for syndicated debt; and (v) contractual commitments of Apollo funds and co-invest vehicles as of the closing date for real estate debt; (c) for SPACs, the total sponsor equity and capital organized as of the respective announcement dates; (d) for platform acquisitions, the purchase price on the signed commitment date; and (e) for platform originations, the gross origination value on the origination date.

Apollo Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

Santander:
comunicacion@gruposantander.com

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EQT and GIC to acquire majority stake in Calisen, a leading independent smart metering company in the UK

EQT and GIC to acquire a majority stake in Calisen

Calisen is a leading independent provider of smart meters and energy transition infrastructure in the UK, whose purpose is to accelerate the development of a cleaner, more efficient and sustainable energy sector

Long-term investment by EQT and GIC to support Calisen’s growth ambitions in the UK smart meter market and abroad, as well as expansion into adjacent sectors

 

The EQT Active Core Infrastructure fund (“EQT”) and GIC, a leading global investor, are pleased to announce an agreement to jointly acquire a majority stake in Calisen Group (“Calisen” or “the Company”) from funds managed by Global Infrastructure Partners (GIP), a part of BlackRock, the Infrastructure business of Goldman Sachs Alternatives and Mubadala Investment Company. Equitix will remain a minority investor.

Headquartered in Manchester, Calisen is a leading independent owner and manager of essential energy infrastructure assets. The Company is a provider of smart meters, electric vehicle charging, solar and battery, and heat pump installation, meter reading, maintenance and ancillary services, whose purpose is to accelerate the development of a cleaner, more efficient and sustainable energy sector.

Operating under long-term contracts, Calisen has firmly established itself as a provider of choice in the UK thanks to its scale, operational excellence, and strong customer relationships. With an installed base of approximately 16 million meters, it is well-positioned to capitalize on market trends underpinned by the continued energy transition. The roll-out of smart meters is expected to continue to increase due to a supportive regulatory framework towards net zero as well as demand from energy suppliers and customers to support energy efficiency and the balancing of the electricity grid.

EQT and GIC will support Calisen’s long-term prospects by driving the continued rollout of its energy transition-related assets, including smart meters, heat pumps and renewable energy systems, both in the UK and abroad. It will also explore expanding into adjacent sectors, such as smart water metering.

Kunal Koya, Partner in EQT Active Core Infrastructure’s Advisory Team, said: “Calisen is an exciting investment opportunity, combining significant downside protection and cash flow visibility with tangible upside potential. Its critical role in the UK’s energy transition aligns perfectly with EQT’s commitment to investing in essential infrastructure that contributes to a more sustainable future. We look forward to partnering with management and GIC to embark on Calisen’s next phase of growth.”

Ang Eng Seng, Chief Investment Officer, Infrastructure, GIC remarked: “We are pleased to be investing in Calisen, a high-quality business with a strong market position and good sector tailwinds. Through its integrated business model, Calisen owns, installs, reads and maintains the meters throughout their useful life. With its steady cash flows and long-term contracts, we are confident in Calisen’s growth potential as a core infrastructure investment.”

George Kay, Head of Infrastructure, Europe at GIC, commented: “Smart meters have a crucial role to play in the energy transition. Whilst they are installed at the consumer’s home, they create value across the supply chain. Consumers can track their consumption and potentially lower their bills through access to different tariffs, while suppliers and grid operators can save costs. Our investment will support the roll out of meters across the UK and we look forward to working with management, EQT and Equitix to grow the business for the long term.”

Sean Latus, CEO of Calisen, said: “I am delighted to welcome EQT and GIC as new long-term majority owners of the business alongside our continuing investor. Calisen plays an active role in the decarbonisation of the UK economy, a position we intend to strengthen with the support of all of our shareholders. EQT and GIC’s experience in the energy sector will be invaluable as we look to leverage our scale and customer relationships to significantly expand our smart meter portfolio and replicate our success in adjacent areas.”

The transaction is subject to the satisfaction of certain conditions including regulatory approvals.

Contact
EQT Press Office, press@eqtpartners.com
GIC, Samantha Chiene, SamanthaChiene@gic.com.sg

 

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Ardian completes the acquisition of Tim’s remaining 10% stake in Daphne 3, taking full ownership of 30.8% in INWIT, and confirming its position as a long-term investor and strategic partner for the company

Ardian

Ardian, a world-leading private investment house, today announces the completion of the acquisition, through Impulse I (an Ardian-led entity), of the remaining 10% stake in Daphne 3 held by TIM. The acquisition provides Impulse I with full ownership of the 30.8% stake in INWIT, the leading tower operator in Italy.

Since its initial investment in 2020, Impulse I has invested more than €2.7bn in INWIT, becoming the company’s second-largest shareholder. This transaction further strengthens Ardian’s position as a long-term investor and strategic partner.

INWIT plays a critical role in the country’s digitalization efforts by providing essential infrastructure for the development of modern telecom networks, including 5G. The company’s telecommunications towers are pivotal for Italy’s digital evolution, offering sustainable, cutting-edge solutions to meet the growing demand for high-quality network services.

As part of the transaction, the shareholders’ agreement between TIM and the Impulse I has been terminated. The transaction implies a valuation of EUR 10.43 per INWIT share.

Following the cancellation of INWIT shares completed on November 15th, 2024, on the date hereof Daphne 3 holds a stake approximately equal to 30.8% of INWIT’s share capital.

“This transaction represents an important milestone in our long-term partnership with INWIT, and we are excited to play a key role in the next phase of its development. We believe in the company’s growth potentials, working closely with INWIT’s management and strategic commercial partners (including TIM) to capitalize on both organic opportunities and strategic acquisitions. Our shared vision for driving Italy’s digital transformation, particularly through the expansion of 5G networks and the modernization of telecom infrastructure, positions us well to support INWIT’s continued success as a leader in the European telecom infrastructure sector”. Rosario Mazza, Senior Managing Director and Head of Infrastructure Italy, Ardian

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 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. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East 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.

ardian.com

Press contact

Ardian

Headland

ardian@headlandconsultancy.com

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Aliter backs acquisition of secure mobile communications provider

Deal supports scale-up of a leading national provider of Network and ICT managed services to Critical National Infrastructure

 

Aliter has provided further capital to complete the acquisition of Serbus Limited (Serbus) to join the Group platform alongside ITM Communications and Bates IT.

 

Established in 2010, Serbus is recognised as a leader in the provision of best-of breed secure mobile communications, offering top level security, threat protection and compliance, to ensure day to day operations remain productive and uninterrupted, wherever its customers’ employees are working in the world. This includes high-profile government and military environments, as well as within multinational corporations, where protection of employees and intellectual property is key.

 

Serbus currently supports customers across the UK’s Critical National Infrastructure (CNI), working closely with the Ministry of Defence (MOD) and a range of UK Government departments.

 

Based in Hereford in the West Midlands, Serbus now becomes part of the evolving Group in Aliter’s portfolio that currently includes ITM Communications, a leading UK provider of critical network and ICT infrastructure services and Bates IT, the specialist healthcare ICT provider.

Simon Fieldhouse, Group CEO, said, “This deal broadens the group’s existing credentials in supporting Critical National Infrastructure and the defence sector, adding enhanced capabilities and value to our existing customers. It also enables us to advance the launch of a stand-alone dedicated defence practice within the group. The extension of our services portfolio to include secure NCSC approved communications products and solutions provides a tremendous opportunity to extend our security pedigree and broaden our managed services footprint across existing customers in healthcare & UK Gov, whilst expanding into adjacent CNI verticals, such as emergency services, utilities, energy and datacentres.”

 

Serbus’s founders and directors, Sebastian Wiles and Russell Ticehurst, have a UK Special Forces background. Both are remaining with the business and will now work closely with Fieldhouse to drive further growth organically, whilst continuing to pursue a buy and build strategy.

 

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Equistone portfolio company BUKO Traffic & Safety continues UK expansion with acquisition of Hooke Highways

Equistone

BUKO Traffic & Safety (“BUKO”), a leading provider of outsourced traffic and safety management solutions in the Netherlands, the UK and Germany, has acquired Hooke Holdings Limited, parent of operating subsidiary and brand Hooke Highways (“Hooke Highways”), one of the largest providers of traffic management in the South of England. Following BUKO’s acquisition of Scunthorpe-headquartered Road Traffic Solutions (“RTS”) earlier this year, the acquisition of Hooke Highways builds on the company’s growing presence in the UK market.

Headquartered in Barendrecht, the Netherlands, BUKO Traffic & Safety employs over 700 people and successfully oversees thousands of projects annually. A leading provider of outsourced traffic and safety management solutions in its home market of the Netherlands, the company consists of the two business units BUKO Infrasupport and BUKO Waakt. Founded in 1991, BUKO Infrasupport specialises in temporary traffic management solutions. With its comprehensive portfolio of services – from design, planning, approval, deployment and collection, as well as onsite management of road signage, safety equipment required for roadworks and an innovative range of digital traffic management solutions – BUKO Infrasupport primarily serves contractors and public authorities, active in utility-related and urban/rural roadworks. BUKO Waakt provides temporary remote security solutions with a focus on camera surveillance, intrusion detection systems and access control systems, which are used principally on construction sites.

Since funds advised by Equistone acquired a majority stake in BUKO in February 2023, the company has pursued a growth strategy focused on building its presence in its home market and targeted expansion into neighbouring countries supported by strong market dynamics. In March 2024, BUKO established a foothold in the attractive UK market by acquiring RTS, a temporary traffic and event management solutions specialist operating from seven locations and employing 175 people. With the acquisition of Hooke Highways, BUKO strengthens its position in this key growth market. In October 2024, BUKO also expanded into the German market for the first time with the acquisition of BVT Bremer Verkehrstechnik.

Hooke Highways provides high-quality temporary traffic management services to a diverse customer base. Headquartered in Lower Weare, Somerset, the business operates from six locations in the South of England. The company is being acquired from the Managing Director and major shareholder Michael Montague, who will continue to lead the company’s operations post transaction, and Panoramic Growth Equity (“PGE”), an equity and debt investor which invested into Hooke Highways in 2020. Under Michael and PGE’s ownership, Hooke Highways has achieved strong growth in recent years, driven by new customer wins and consolidation of its existing customer base. The company has 140 employees.

“We are excited to partner with Hooke Highways and strengthen our foothold in the attractive UK market. There is strong synergy between RTS and Hooke Highways in terms of geographic presence, culture and ambitions for the future,” says Robert Emmerich, CEO at BUKO. “Together, we’re committed to deliver an even stronger and versatile service to our customers and expanding our impact across the UK in the years to come,” says Robert Emmerich, CEO at BUKO.

“After successfully entering the UK earlier this year, Hooke Highways represents an important next step towards expanding BUKO’s presence in the UK and realising its ambitions of becoming a leading player in the market,” says Hubert van Wolfswinkel, Partner in Equistone’s Amsterdam office.

The Equistone team includes Hubert van Wolfswinkel, Tanja Berg and Josh Aalbers. BUKO was advised on the transaction by PwC (Financial & Tax) and Ashfords (Legal).

PR Contacts

GERMANY / SWITZERLAND / NETHERLANDS

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  • Ira Wülfing / Florian Bergmann
  • Tel: +49 (0)89 2000 30 30
  • E-Mail IWK

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EQT to sell Melita, the digital infrastructure owner and operator in Malta

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EQT to sell Melita to Goldman Sachs Alternatives

Under EQT’s ownership, Melita strengthened its position as a leading digital infrastructure owner and operator through strategic investments in its network and customer experience, while building a successful international Internet of Things (IoT) connectivity business

Today, Melita is the only operator in Malta providing both nationwide Gigabit fixed and nationwide 5G mobile services, and is well-positioned to expand its footprint in the fast-growing IoT connectivity sector

EQT is pleased to announce that the EQT Infrastructure IV fund (“EQT”) has signed an agreement to sell Melita (“the Company”) to Goldman Sachs Alternatives.

Founded in 1992, Melita is today a leading digital infrastructure owner and operator in Malta with a fully invested fiber-powered fixed network as well as a nationwide 5G mobile network with its own towers, backhaul and small cell footprint. With the largest data center in Malta, Melita delivers a full suite of digital services, including Gigabit broadband and 5G mobile connectivity, premium TV offerings, and data center solutions to households and businesses across the country.

Since EQT acquired Melita in 2019, the Company has made substantial investment in its infrastructure and enhanced its operations and service offering. For example, it has successfully developed Generative AI tools to support customers with billing, sales and technical queries which had a positive impact on customer satisfaction. The Company has also expanded internationally, establishing its presence in the rapidly growing IoT connectivity market via its proprietary platform and agile, customer-centric go-to-market approach.

Sustainability has been a core focus for Melita, becoming the first EQT portfolio company to have its near-term targets validated by the Science Based Targets initiative. The Company is investing in solar farms to produce renewable energy and has already replaced almost half of its car fleet with electric vehicles. It also established the Melita Foundation which supports impactful community initiatives.

Ulrich Köllensperger, Partner in the EQT Value-Add Infrastructure Advisory team, said: “Building on EQT’s long track record of investing in digital infrastructure, we supported Melita through strategic investments including in its 5G coverage and an upgrade of its fiber-powered network. We are proud of the rapid progress of Melita’s IoT business which, in just a few years since inception, has grown significantly and through add-on acquisitions, established a promising new business line with a pan-European reach. We believe the Company is well-positioned for further growth and would like to thank Harald and the entire team for their dedication and wish them continued success.”

Harald Rösch, CEO of Melita, said: “Thanks to EQT’s support, the past five years have been transformational, enabling us to make substantial progress across all aspects of our business and becoming the first operator in the European Union to deploy both a nationwide Gigabit broadband network and a nationwide 5G network. This transaction reflects the achievements of our entire team and the loyalty of our customers. With Goldman Sachs Alternatives’ support and expertise, we are excited to continue our journey sustainably, investing in our infrastructure, enhancing our services in Malta and driving further innovation.”

The transaction is subject to conditions including regulatory approvals.

EQT was advised by UBS (financial), Milbank and Camilleri Preziosi (legal).

Contact
EQT Press Office, press@eqtpartners.com

About

About EQT
EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 134 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

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Pomerleau Capital announces it has completed the second round of financing for its PCap Real Assets Fund L.P.

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Pomerleau Capital Inc., the financial arm of Pomerleau Inc., confirms it has completed the second round of financing for its PCap Real Assets Fund L.P.  (the “PCap Fund”). In addition to the Caisse de dépôt et placement du Québec (CDPQ), which has increased its capital commitment, six (6) major financial partners have been added to this second round of financing: Banque Nationale Investissement (BNI), the Fondation Mirella et Lino Saputo, Société Financière Bourgie inc, the Lise and Giuseppe Racanelli family, Groupe Hewitt and Annie Lemieux of LSR GesDev. This second round of financing brings the total value of the PCap Fund to just over $200 million, in line with Pomerleau Capital’s strategic plan to build a $500 million fund over the next few years.

Thanks to this strategic investment and the invaluable support of its financial partners, Pomerleau Capital will be able to pursue new investment opportunities in a number of infrastructure, energy transition and building projects across the country.

The PCap Fund’s investment policy targets long-term investments of up to 30 years. It is based on environmental, social and governance criteria established by Pomerleau, from the project design stage through to investment portfolio management.

Since its creation in 2018, Pomerleau Capital has structured financing for projects worth over five billion dollars. The investment strategy that led to the establishment of the PCap Fund in 2021 has enabled it to be a long-term investor in several infrastructure and renewable energy projects worth over $500 million. Pomerleau has invested in wind power projects, an energy-efficient industrial building and a building dedicated to higher education. Some of these projects have been carried out in partnership with Borea Construction, a Pomerleau subsidiary that manages and builds renewable energy projects.

“Given the growing needs of communities, private enterprise has a vital role to play in financing the construction of sustainable infrastructure. We would like to thank the CDPQ for their renewed confidence, and the commitments of our six new partners. They are firmly rooted in the Québec business community and undertake major activities reaching right across Canada. Our PCap Fund now exceeds $200 million, strengthening our room for manoeuvre and diversifying our business opportunities,” says Pomerleau CEO Philippe Adam.

About Pomerleau Capital

Pomerleau Capital is Pomerleau’s financial arm specializing in the investment and financing of infrastructure, energy transition and building projects. The Pomerleau Capital team is dedicated to the development of investment opportunities, project financing and asset management. To date, Pomerleau Capital has structured over $5 billion in financing for large scale, complex infrastructure projects. Pomerleau Capital, manages a portfolio of over $500 million in assets, particularly through its Infrastructure Fund, that are focused on projects contributing to the development of healthy, sustainable communities. For more information on Pomerleau Capital, visit www.pomerleau.ca/en/pomerleau-capital.

About Pomerleau

Pomerleau is one of Canada’s largest construction companies, with close to $5 billion in revenues in 2023. It delivers buildings, infrastructures, civil engineering works, and major projects using collaborative models. With its research and development lab, Pomerleau integrates innovation in more than 70% of its projects and works in a sustainable way to build the living environments of tomorrow. Its subsidiary Borea executes 50% of the country’s renewable construction projects, and ITC Construction Group, acquired in 2022, is one of the largest residential construction companies in the West. It also owns Pomerleau Capital, a subsidiary specializing in private infrastructure investment and financing. Founded 60 years ago, Pomerleau has over 5,000 employees and workers at over 200 sites from coast to coast. The company has been named among Canada’s Top 100 Employers since 2020. www.pomerleau.ca

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First Dutch acquires Verwater with SI

FIrst Dutch

First Dutch, together with Standard Investment (SI), acquires Verwater. Verwater is a leading company in the construction and maintenance of petrochemical storage tanks and technical infrastructure. The transaction is still subject to approval by the Netherlands Authority for Consumers and Markets (ACM).

Verwater, originally a family business from Rotterdam with a rich history, distinguishes itself through its technical expertise and wide range of services in tank construction and maintenance. These core qualities have made Verwater an important player in the ARA region (Amsterdam-Rotterdam-Antwerp), the largest petrochemical hub in Europe with an estimated storage capacity of 40 million cubic meters. The company provides services to a diverse group of major energy and storage companies.

Peter Goedvolk, owner and CEO of First Dutch, is enthusiastic. “The combination of Verwater’s expertise and our joint experience in the (Rotterdam) energy sector provides a solid foundation for further growth and innovation. Together with Standard Investment and Verwater’s management team, we are determined to enter the next phase and strengthen their leading position in the market.”

Verwater will continue to operate under the leadership of the current management team, which will continue the successful strategy of the past two years with the support of Standard Investment and First Dutch. Marloes Oude Breuil, CEO of Verwater, adds: “We are excited about the future of Verwater and the collaboration with our new partners. With their support, we can further strengthen our customer proposition and continue to respond to the challenges in the market, especially in the context of the energy transition.”

Verwater is a global contractor for industrial and petrochemical installations, specializing in tank maintenance and construction. They also offer services such as tank jacking, civil works, piping, turnarounds, painting, E&I, E&A, panel building, and engineering. Verwater was founded in 1922 and has a long history in tank terminals and refineries. Today, approximately 1,200 experienced employees work for Verwater worldwide, generating an annual turnover of around € 200 million.

October 2024

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CapMan Infra invests in heat-as-a-service operator and bioenergy producer ProPellet

Capman

CapMan Infra invests in heat-as-a-service operator and bioenergy producer ProPellet

CapMan Nordic Infrastructure II fund invests in ProPellet, a heat-as-a-service (“HaaS”) operator and bioenergy producer. The company offers property-specific HaaS solutions and operates its own pellet fuel production facilities. CapMan Infra aims to support the company’s growth by financing investments in the HaaS operations and expansion into new customer groups and energy technologies.

CapMan Infra has agreed to acquire a majority stake in the heat-as-a-service and bioenergy company ProPellet Oy. The company’s key personnel will continue as minority owners alongside CapMan Infra.

Founded in 2006, ProPellet is Finland’s leading producer of pellet-based bioenergy and now employs about 25 people. The company provides its customers with property-specific heating plants as a service, with a portfolio of over 120 heating sites across Finland. In addition, the company operates its own pellet fuel production facilities in Ylivieska and Tervola, which utilise side streams from the forestry and sawmill industries. ProPellet’s business has experienced strong growth in recent years, particularly due to the ongoing transition from oil-based heating to biofuels.

“We are very pleased with this investment. ProPellet is a company with considerable growth potential, and our aim is to invest in the development of the heating service business as well as support expansion into new energy technologies,” says Pekko Haaksluoto, Partner at CapMan Infra.

“This transaction greatly enhances our capacity to address our customers’ needs. With additional resources and expertise at our disposal, we will be able to serve our customers even better and continue developing innovative, cutting-edge energy solutions. We believe that CapMan is an excellent partner with whom we can take our heat service business to a new level and promote the green transition in the heating sector,” says Timo Peltokorpi, COO of ProPellet.

The transaction is conditional on approval by the competition authorities and is expected to be completed by the end of 2024.

The CapMan Nordic Infrastructure II fund is an Article 8 fund with a clear sustainability strategy, aiming to create value by accelerating the green transition in its portfolio companies. The fund has already made five investments: two in a growing data centre platform, in solar energy company Skarta Energy, in Napier, a leading provider of transportation infrastructure for the aquaculture industry, and in Haminan Energia’s district heating and electricity network businesses.

CapMan Infra is an active and committed owner, and its activities are based on the operational development and growth of infrastructure companies through additional investments. Based in Helsinki and Stockholm, its team of 14 professionals actively seeks to find the best possible solutions for developing and growing infrastructure together with asset owners, management, personnel and customers.

For more information:

Pekko Haaksluoto, Partner, CapMan Infra, tel. +358 40 584 6031

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €6 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

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Ardian announces sale of stake in Trados to Abertis

Ardian

Ardian invested in Autopista Trados M-45 in 2011 alongside Abertis, a leading international motorway operator headquartered in Spain.
• Trados operates a stretch of the M45 shadow-toll road in Madrid, which connects the South and South-East of the Spanish capital.
• More than 85,000 vehicles per day use the length of M45 shadow-toll road operated by Trados, an increase of 50% since Ardian’s initial investment.

Ardian, a world-leading private investment house, today announces the sale of its 49% stake in Autopista Trados 45 (“Trados”), to Abertis, a leading international motorway operator headquartered in Spain. Abertis was already the majority shareholder in Trados.

Trados is a holding company which oversees investment in a 14.5km stretch of the M45 Madrid ring-road in Spain. The M45 is managed through a concession agreement with the Autonomous Community of Madrid, which was granted in 2019 and runs until 2029. The concessionaire’s remuneration is determined through a shadow toll mechanism, regulated by an inflation-linked revenue cap.

The stretch of road overseen by Trados connects South and South-East Madrid, areas where urban development and economic growth over the last decade has led to a significantly increased volume of traffic. On average, more than 85,000 vehicles per day use this section of the ring-road, an increase of over 50% since Ardian’s initial investment in 2011.

“We are delighted to have had the opportunity to work with Trados and its management team. We have supported the company for more than 13 years, including by bringing in initiatives to build operational excellence and by working to optimize the capital structure. We wish the Trados and Abertis management teams every success for the asset’s exciting future.” Juan Angoitia Co-Head of Infrastructure Europe, ARDIAN

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $169bn of assets on behalf of more than 1,680 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. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East 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.

ardian.com

Press contact

Ardian

Headland

ardian@headlandconsultancy.com

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