Divestiture • Utilities

Demeter and Cube Infrastructure Managers Acquire Renewable Power International

On June 22, 2011, private equity firm Demeter and infrastructure investor Cube Infrastructure Managers acquired utilities company Renewable Power International from RP Global Holding SL for 230M EUR

Acquisition Context
  • This is Demeter’s 1st and Cube Infrastructure Managers’ 1st transaction in the Utilities sector.
  • This is Demeter’s and Cube Infrastructure Managers’ largest (disclosed) transaction.
  • This is Demeter’s 4th and Cube Infrastructure Managers’ 1st transaction in Spain.

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M&A Deal Summary

Date June 22, 2011
Target Renewable Power International
Sector Utilities
Buyer(s) Demeter
Cube Infrastructure Managers
Sellers(s) RP Global Holding SL
Deal Type Divestiture
Deal Value 230M EUR

Target Company

Renewable Power International

Madrid, Spain
Renewable Power International is an independent power producer (IPP) from three sources of renewable energy Hydrological, Wind and Solar-photovoltaic with capacity to cover the value chain in project, from its identification to its development, promotion, administrative processing, financing, construction, commissioning, operation, maintenance and management. Renewable Power International is based in Madrid, Spain.
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Buyers Overview 2

Buyer

Demeter

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 1.4B EUR
Size Large
Type Sector Focused
DESCRIPTION

Demeter is a private investment group focused on providing expansion and development capital to renewable energy and environmental companies. The Firm primarily looks for opportunities in France, but also pursues companies in greater Europe. The Firm will consider businesses at all stages of development and seeks to commit €1 to €30 million per investment. Demeter was formed in 2005 and is based in Paris.


Deal Context for Buyer #
Overall 24 of 47
Sector: Utilities 1 of 2
Type: Divestiture 1 of 4
Country: Spain 4 of 6
Year: 2011 6 of 6
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-05 SCHNELL Motoren

Wangen im Allgäu, Germany

SCHNELL Motoren is a manufacturer of combined heat and power plants designed for the efficient and sustainable generation of electricity and heat.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 Methaneo

Paris, France

Methaneo specialises in the development of collective methanisation projects using biomass from agricultural and food waste. Methanisation entails the fermentation of organic matter, which produces energy thanks to the methane-rich biogas created by the procedure. The company focuses on 'territorial' methanisation projects.

Sell -
Buyer

Cube Infrastructure Managers

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2007
PE ASSETS 4.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Cube Infrastructure Managers is a private equity firm focused on European infrastructure investments. The Firm targets control and co-control situations and generally looks to invest in infrastructure assets offering sustainable growth potential principally driven by deregulation and/or market consolidation needed to improve the efficiency of essential infrastructure & public services, notably energy supply, communication infrastructure, and public transport. Cube also has a dedicated fund focused on investing in fiber communications infrastructure. Cube Infrastructure Managers was formed in 2007 and is headquartered in Luxembourg.


Deal Context for Buyer #
Overall 3 of 32
Sector: Utilities 1 of 3
Type: Divestiture 3 of 5
Country: Spain 1 of 4
Year: 2011 3 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-16 Covage

Courbevoie, France

Covage is an operator of fiber deployment and IP services. Covage was founded in 2006 and is based in Courbevoie, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 Idex

Boulogne-Billancourt, France

Idex's core activity is the technical maintenance and management of energy. The group offers global solutions to its clients including the management of collective heating and cooling networks (public and private) as well as the technical maintenance of buildings an third party management of utilities. Idex's clients include authorities, residential complexes and industrial corporations. Idex was founded in 1963 and is based in Boulogne-Billancourt, France.

Buy -

Seller Profile 1

SELLER

RP Global Holding SL

Madrid, Spain

Category Company
Sector Renewable Energy
DESCRIPTION

RP Global is an IPP (Independent Power Producer) with experience in the renewable energy sector. The company is a developer, investor and operator, involved in hydro and wind energy projects.


Deal Context for Seller #
Overall 1 of 1
Sector: Utilities 1 of 1
Type: Divestiture 1 of 1
Country: Spain 1 of 1
Year: 2011 1 of 1
Size (of disclosed) 1 of 1

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