M&A Deal Summary

DIF Capital Partners Acquires BluEarth Renewables

On May 16, 2019, infrastructure investor DIF Capital Partners acquired renewable energy company BluEarth Renewables from ARC Financial and Ontario Teachers Pension Plan

Acquisition Highlights
  • This is DIF Capital Partners’ 1st transaction in the Renewable Energy sector.
  • This is DIF Capital Partners’ 1st transaction in Canada.
  • This is DIF Capital Partners’ 1st transaction in Alberta.

M&A Deal Summary
Date 2019-05-16
Target BluEarth Renewables
Sector Renewable Energy
Buyer(s) DIF Capital Partners
Sellers(s) ARC Financial
Ontario Teachers Pension Plan
Deal Type Secondary Buyout

Target

BluEarth Renewables

Calgary, Alberta, Canada
BluEarth Renewables is an independent, power producer that develops, builds, owns and operates wind, hydro and solar facilities. BluEarth Renewables was founded in 2010 and is based in Calgary, Alberta.

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Buyer(S) 1

Buyer

DIF Capital Partners

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2005
PE ASSETS 16.0B EUR
Size Mega
Type Sector Focused
DESCRIPTION

DIF Capital Partners is a private investment firm focused on infrastructure and real assets. The Firm targets opportunities across Europe, North America, and Australia and generally looks to commit €10 to €250 per transaction or project. Targeted assets include telecom infrastructure, rail, energy and non-regulated utility sectors. DIF Capital Partners was formed in 2005 and is headquartered in Schiphol, Netherlands.

DEAL STATS #
Overall 5 of 35
Sector (Renewable Energy) 1 of 8
Type (Secondary Buyout) 3 of 5
State (Alberta) 1 of 2
Country (Canada) 1 of 5
Year (2019) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-28 UNITANK

Hamburg, Germany

UNITANK is an independent and neutral infrastructure and services provider storing liquid oil products. The company owns and operates five terminals in Germany and one terminal in Belgium, all in key strategic locations. The terminals handle diesel, gasoline, jet fuel, and heating oil and have a total storage capacity of c. 1.1 million cubic meters. UNITANK is based in Hamburg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 Loimua

Hameenlinna, Finland

Loimua is an owns and operates 16 district heating networks across Finland with a total network length of 499km, via which it operates in 10 municipalities and serves approximately 85,000 end-customers. Loimua was founded in 1995 and is based in Hameenlinna, Finland.

Buy -

Seller(S) 2

SELLER

ARC Financial

Calgary, Alberta, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 6.0B CAD
Size Mega
Type Sector Focused
DESCRIPTION

ARC Financial Corp is a specialist private equity firm that invests in Canadian energy companies. Specific areas of interest include emerging resources/drilling technologies, oil sands, and oilfield services. ARC looks to commit $25 to $100 million per transaction. Transaction types include buyouts, growth capital financings, and recapitalizations. ARC Financial Corp. was formed in 1989 and is headquartered in Calgary.

DEAL STATS #
Overall 6 of 9
Sector (Renewable Energy) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Alberta) 4 of 7
Country (Canada) 4 of 7
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-13 Canbriam Energy

Calgary, Alberta, Canada

Canbriam Energy Inc. is a private company focused on unconventional resource exploration and development. Canbriam Energy was founded in 2007 and is based in Calgary, Canada.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 Modern Resources

Calgary, Alberta, Canada

Modern Resources is an oil and gas company focused on the pursuit of proved reserve acquisitions. Modern Resources was founded in 2012 and is based in Calgary, Alberta.

Sell CA$144M
SELLER

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Pension
Founded 1990
PE ASSETS 242.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.

DEAL STATS #
Overall 42 of 72
Sector (Renewable Energy) 1 of 1
Type (Secondary Buyout) 12 of 20
State (Alberta) 2 of 3
Country (Canada) 9 of 11
Year (2019) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-13 Canbriam Energy

Calgary, Alberta, Canada

Canbriam Energy Inc. is a private company focused on unconventional resource exploration and development. Canbriam Energy was founded in 2007 and is based in Calgary, Canada.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-27 Lendmark Financial Services

Lawrenceville, Georgia, United States

Lendmark Financial Services is a consumer finance company specializing in providing a variety of personal loans, automobile loans, and retail merchant sales finance services. Lendmark Financial Services was founded in 1996 and is based in Lawrenceville, Georgia.

Buy -
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