M&A Deal Summary

Actis Capital Acquires BTE Renewables

On August 1, 2019, private equity firm Actis Capital acquired renewable energy company BTE Renewables from Denham Capital

Acquisition Highlights
  • This is Actis Capital’s 16th transaction in the Renewable Energy sector.
  • This is Actis Capital’s 15th transaction in South Africa.
Investment Fate
  • BTE Renewables was sold to a publicly-traded strategic buyer in 2023 for 1.0B USD.

M&A Deal Summary

Date 2019-08-01
Target BTE Renewables
Sector Renewable Energy
Buyer(s) Actis Capital
Sellers(s) Denham Capital
Deal Type Secondary Buyout

Target

BTE Renewables

Fourways, South Africa
BTE Renewables is a clean and renewable energy company develops, acquires, owns and operates waste to energy, renewable energy, and energy efficiency projects in the sub-utility range of approximately 5-100MW. These include Golden Valley, a 123MW wind project in the Eastern Cape; Excelsior, a 33MW wind project in the Western Cape; Aggeneys, a 46MW solar project in the Northern Cape; Konkoonsies II an 86MW solar project in the Northern Cape and a 4MW biogas facility. BTE Renewables was founded in 2003 and is based in Fourways, South Africa.

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Buyer(S) 1

Buyer

Actis Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Actis Capital is a private equity firm focused on investments in emerging markets. Actis segments its investment activity into three areas. These include private equity, energy, and real estate. Actis' private equity team looks for buyout and growth capital opportunities requiring at least $50 million in financing. Depending on the situation, Actis will consider both controlling and minority investment situations. Sectors of interest include financial services, consumer and retail, business services, and industrial. Actis' energy group seeks to invest in in a variety of energy and utility projects. Actis' real estate team invests equity capital in office, residential, industrial, hotel and retail projects. Actis Capital was established in 2004 and is based in London, United Kingdom.


DEAL STATS #
Overall 140 of 163
Sector: Renewable Energy M&A 16 of 25
Type: Secondary Buyout M&A Deals 5 of 6
Country: South Africa M&A 15 of 17
Year: 2019 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-29 Eolicas Babilonia

Sao Paulo, Brazil

Eolicas Babilonia generates electricity from renewable sources. Eolicas Babilonia is based in Sao Paulo, Brazil.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-31 Empower

Helsinki , Finland

Empower is one of the service providers in the electrical, telecom and industrial sectors in Finland, Sweden and the Baltic states. Empower specialises in the design, construction, operation and maintenance of electricity and telecom networks, as well as in installation, operation, maintenance and expert services for power plants and industry. Empower was founded in 1998 and is based in Helsinki, Finland.

Sell -

Seller(S) 1

SELLER

Denham Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 9.7B USD
Size Mega
Type Sector Focused
DESCRIPTION

Denham Capital Management is a specialist private investment firm focused on the energy and commodities sectors. Denham looks to invest in businesses and assets involving natural resources, metals and mining, power and utilities, and energy-related infrastructure and services. Denham will consider investments worldwide, with current projects in the US, Canada, South America, Europe, and Asia. Denham will also consider both development projects as well as mature, operating businesses. The Firm's target investment size is $50 to $200 million. Denham Capital Management was founded in 2004 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 20 of 22
Sector: Renewable Energy M&A 3 of 5
Type: Secondary Buyout M&A Deals 3 of 3
Country: South Africa M&A 1 of 1
Year: 2019 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-10 Covey Park Energy

Dallas, Texas, United States

Covey Park Energy (CPE) is a private oil and gas exploration and production company headquartered in Dallas, Texas. CPE is primarily focused on the acquisition and exploitation of long-life reserves in the Ark-La-Tex, Permian and Mid-Continent regions.

Sell $2.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-13 Ceiba Energy

Houston, Texas, United States

Ceiba Energy seeks to acquire, build, own and operate a portfolio of high-quality power generation assets in Latin America consisting of both gas-fired and renewable projects. Ceiba is developing the Portocem LNG-to-power project in Northeast Brazil. The project is located next to an existing port and the gas-fired combined cycle power plant is licensed up to 2.2 GW. The new plant will provide reliable and firm electricity for the region. Ceiba is developing the project with Rio Energy. Ceiba Energy was founded in 2015 and is based in Houston, Texas.

Buy -