M&A Deal Summary

Augment Infrastructure Acquires CleanMax

On August 12, 2021, infrastructure investor Augment Infrastructure acquired renewable energy company CleanMax from Warburg Pincus for 16.5B INR

Acquisition Highlights
  • This is Augment Infrastructure’s 2nd transaction in the Renewable Energy sector.
  • This is Augment Infrastructure’s 0th largest (disclosed) transaction.
  • This is Augment Infrastructure’s 1st transaction in India.

M&A Deal Summary
Date 2021-08-12
Target CleanMax
Sector Renewable Energy
Buyer(s) Augment Infrastructure
Sellers(s) Warburg Pincus
Deal Type Secondary Buyout
Deal Value 16.5B INR

Target

CleanMax

Mumbai, India
CleanMax is a solar developer that supplies electricity to commercial and industrial (C&I) customers through long-term (15-25 years) power purchase agreements. The Company installs its solar projects either on the customer’s rooftop or at an offsite location connected to the customer via the electrical grid. CleanMax has successfully built a diversified customer base across multiple industries consisting of high-quality multi-national companies and marquee Indian corporates with strong credit profiles. CleanMax was founded in 2011 and is based in Mumbai, India.

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Buyer(S) 1

Buyer

Augment Infrastructure

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2019
Size Small
Type Sector Focused
DESCRIPTION

DEAL STATS #
Overall 2 of 2
Sector (Renewable Energy) 2 of 2
Type (Secondary Buyout) 1 of 1
Country (India) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-12 Órigo Energia

São Paulo, Brazil

Órigo Energia is a Brazilian downstream solar company that sells, engineers, and operates PV (photovoltaic) systems in the commercial B3 (low voltage) customer segment. Órigo Energia was founded in 2010 and is based in São Paulo, Brazil.

Buy -

Seller(S) 1

SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.

DEAL STATS #
Overall 218 of 251
Sector (Renewable Energy) 4 of 4
Type (Secondary Buyout) 36 of 42
Country (India) 17 of 22
Year (2021) 12 of 22
Size (of disclosed) 50 of 63
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-29 Velvet Energy

Calgary, Alberta, Canada

Velvet Energy is an exploration and production company focused on acquiring, exploring for and developing oil and liquids-rich natural gas assets in the Western Canadian Sedimentary Basin. Velvet Energy was founded in 2011 and is based in Calgary, Alberta.

Sell CA$743M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-20 CarTrade

Mumbai, India

CarTrade is an online automotive classifieds and auctions platform providing individuals and dealers a medium to buy and sell used cars as well as conduct research on new cars. CarTrade was founded in 2009 and is based in Mumbai, India.

Sell -
Mergr

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