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M&A Deal Summary

Igneo Infrastructure Partners Acquires Utilitas

On November 1, 2018, infrastructure investor Igneo Infrastructure Partners acquired renewable energy company Utilitas

Acquisition Highlights
  • This is Igneo Infrastructure Partners’ 2nd transaction in the Renewable Energy sector.
  • This is Igneo Infrastructure Partners’ 1st transaction in Estonia.

M&A Deal Summary
Date 2018-11-01
Target Utilitas
Sector Renewable Energy
Buyer(s) Igneo Infrastructure Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Utilitas

Tallinn, Estonia
Utilitas is a district heating operator and renewable energy producer in Estonia providing heat to 8 cities in Estonia, including Tallinn the capital of Estonia. The company operates 556km of district heating network, providing over 2GWh of heat to 174,000 households across the country. Utilitas is based in Tallinn, Estonia.

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Buyer(S) 1

Buyer

Igneo Infrastructure Partners

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 1994
PE ASSETS 16.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

Igneo Infrastructure Partners is a global infrastructure investment firm within the First?Sentier?Investors Group, focusing on mature mid?market infrastructure assets across renewables, digital infrastructure, utilities, transportation, and waste management. The Firm adopts a long-term, hands-on investment horizon to drive innovation, responsible investment practices, and sustainable value creation. Igneo Infrastructure Partners was formed in 1994 and is headquartered in London.

DEAL STATS #
Overall 12 of 23
Sector: Renewable Energy M&A 2 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 10 of 18
Country: Estonia M&A 1 of 1
Year: 2018 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-01 Scandlines

Hamburg, Denmark

Scandlines is a ferry operator. It specialises in rapid, reliable, and comfortable transportation of passengers and freight on international routes in Danish, German and Swedish coastal waters, as well as to the Baltic countries and Finland. Scandlines’ activities also include catering services, together with retail sales of goods in on-board and on-shore shops and restaurants. Scandlines was founded in 1998 and is based in Hamburg, Denmark.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-01 OLT Offshore LNG Toscana

Milan, Italy

OLT Offshore LNG Toscana owns and operates the FSRU Toscana, a floating LNG regasification terminal. The FSRU was converted from an LNG tanker and is anchored off the Italian coast of Livorno. The terminal has an annual regasification capacity of 3.75 bcm (approx. 4% of domestic demand) and is connected to the Italian gas transmission network via a subsea pipeline. OLT Offshore LNG Toscana is based in Milan, Italy.

Buy -
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