M&A Deal Summary

Asterion Industrial Partners and F2i SGR Acquire Sorgenia

On October 7, 2020, infrastructure investors Asterion Industrial Partners and F2i SGR acquired renewable energy company Sorgenia from KKR and Partners Group

Acquisition Highlights
  • This is Asterion Industrial Partners’ 2nd and F2i SGR’s 3rd transaction in the Renewable Energy sector.
  • This is Asterion Industrial Partners’ 1st and F2i SGR’s 16th transaction in Italy.

M&A Deal Summary

Date 2020-10-07
Target Sorgenia
Sector Renewable Energy
Buyer(s) Asterion Industrial Partners
F2i SGR
Sellers(s) KKR
Partners Group
Deal Type Secondary Buyout

Target

Sorgenia

Milan, Italy
Sorgenia is a wind farm owner/operator, The Company generates, distributes, and trades solar, wind, hydro, and thermo energy. Sorgenia operates power plants in Italy and France. Sorgenia was founded in 1999 and is based in Milan, Italy.

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Buyer(S) 2

Buyer

Asterion Industrial Partners

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2018
PE ASSETS 8.0B EUR
Size Mega
Type Sector Focused
DESCRIPTION

Asterion Industrial Partners is an investment management firm focused on investing in European middle-market infrastructure projects and assets. Specific sectors of interest include telecommunication, energy, utilities, and transportation. Asterion Industrial Partners was established in 2018 and is headquartered in Madrid, Spain.


DEAL STATS #
Overall 6 of 20
Sector: Renewable Energy M&A 2 of 7
Type: Secondary Buyout M&A Deals 1 of 2
Country: Italy M&A 1 of 5
Year: 2020 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-25 Energy Assets

Lancashire, United Kingdom

Energy Assets is a integrated provider of multi-utility metering services and management, and last-mile utility connections. Energy Assets was founded in 2005 and is based in Lancashire, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-13 Axion

Seville, Spain

Axion is a provider of broadcasting, tower infrastructure and telecommunication services in Spain. Axion was founded in 1999 and is based in Seville, Spain.

Buy €200M
Buyer

F2i SGR

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2007
PE ASSETS 8.3B EUR
Size Mega
Type Sector Focused
DESCRIPTION

F2i SGR is an Italian investor in infrastructure and other real assets. The Firm primarily targets assets located in Italy and will consider both minority and majority positions. F2i was formed in 2007 and has offices in Rome and Milan.


DEAL STATS #
Overall 16 of 22
Sector: Renewable Energy M&A 3 of 3
Type: Secondary Buyout M&A Deals 2 of 5
Country: Italy M&A 16 of 22
Year: 2020 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-01 FHP Group

Milan, Italy

FHP Group is an operator of terminal handling of bulk cargo. FHP Group was formed in 2019 and is based in Milan, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Geasar

Olbia, Italy

Geasar is an operator of Olbia Costa Smeralda Airport. Geasar was founded inn 1985 and is based in Olbia, Italy.

Buy -

Seller(S) 2

SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 148 of 215
Sector: Renewable Energy M&A 2 of 2
Type: Secondary Buyout M&A Deals 27 of 41
Country: Italy M&A 4 of 4
Year: 2020 M&A 13 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-25 Hensoldt

Taufkirchen, Germany

Hensoldt is a provider of sensors for security and surveillance missions. The company is a global player in such areas as missile warning systems and submarine periscopes. It is active in the market for radar systems, optronics and electronic protection systems. Hensoldt was founded in 2020 and is based in Taufkirchen, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-11 Yiguo

Beijing, China

Yiguo is a B2C e-commerce platform specialized in fresh food, and is the exclusive partner with Tmall on its fresh food channel. Yiguo is based in Beijing, China.

Sell -
SELLER

Partners Group

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1996
PE ASSETS 174.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Partners Group is a global investment management firm with a variety of funds and institutional clients. The Firm's direct investment group looks to invest in or acquire market leading companies with growth opportunities linked to technology. Partners is a hands-on investor and looks to actively support its portfolio companies with expansion, operational, and governance structure support. Partners Group was established in 1996 and is headquartered in Zug, Switzerland.


DEAL STATS #
Overall 18 of 38
Sector: Renewable Energy M&A 3 of 6
Type: Secondary Buyout M&A Deals 10 of 17
Country: Italy M&A 1 of 1
Year: 2020 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-28 Cote Restaurants

London, United Kingdom

Cote Restaurants is a restaurant businesses, providing consistently high-quality, freshly-prepared food in a modern bistro inspired setting. The restaurants are committed to sourcing seasonal and high-quality ingredients, and to providing an exceptional dining experience for customers. Cote Restaurants was founded in 2007 and is based in London, England.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-17 Telepass

Roma, Italy

Telepass is a provider of electronic tolling services. Telepass was founded in 2008 and is based in Roma, Italy.

Buy $2.0B