M&A Deal Summary

TotalEnergies Acquires Total Eren

On July 25, 2023, TotalEnergies acquired renewable energy company Total Eren from Tikehau Capital, FFP Holdings, Bpifrance Investissement, NextWorld Evergreen and TotalEnergies for 3.8B EUR

Acquisition Highlights
  • This is TotalEnergies’ 5th transaction in the Renewable Energy sector.
  • This is TotalEnergies’ largest (disclosed) transaction.
  • This is TotalEnergies’ 9th transaction in France.

M&A Deal Summary

Date 2023-07-25
Target Total Eren
Sector Renewable Energy
Buyer(s) TotalEnergies
Sellers(s) Tikehau Capital
FFP Holdings
Bpifrance Investissement
NextWorld Evergreen
TotalEnergies
Deal Type Add-on Acquisition
Deal Value 3.8B EUR

Target

Total Eren

Paris, France
Total Eren has built up a substantial and diversified portfolio of wind, solar and hydraulic assets representing an installed gross capacity of 650 MW in operation or under construction worldwide. The company is currently developing numerous projects in Asia-Pacific, Africa, and Latin America. Its objective is to achieve a net installed capacity of at least 3 GW by 2023. Total Eren is based in Paris.

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Buyer(S) 1

Buyer

TotalEnergies

Courbevoie, France

Category Company
Founded 1924
Sector Oil/Gas Exploration
Employees62,796
Revenue 195.6B USD (2024)
DESCRIPTION

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables, and electricity. TotalEnergies was founded in 1924 and is based in Courbevoie, France.


DEAL STATS #
Overall 19 of 25
Sector: Renewable Energy M&A 5 of 7
Type: Add-on Acquisition M&A Deals 9 of 12
Country: France M&A 9 of 10
Year: 2023 M&A 1 of 2
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-16 TotalEnergies - European Assets

Paris, France

TotalEnergies's European Assets comprise 100% of TotalEnergies retail assets in Germany and the Netherlands as well as a 60% controlling interest in the Belgium and Luxembourg entities.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-28 Ombrea

Aix-en-Provence, France

Ombrea is a provider of an agricultural services. Ombrea was founded in 2016 and is based in Aix-en-Provence, France.

Buy -

Seller(S) 5

SELLER

Tikehau Capital

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2004
PE ASSETS 7.8B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Tikehau Capital is a global alternative asset management firm with with a variety of investing strategies including private debt, real assets, private equity, and capital markets strategies. The Firm's private equity group looks to invest directly in companies, private equity funds, as well as minority co-investments with other partners. For direct investments, Tikehau sees to partner with management in companies generating €20 million to €1 billion in revenue. Tikehau Capital was formed in 2004 and is based in Paris, France.


DEAL STATS #
Overall 9 of 9
Sector: Renewable Energy M&A 1 of 1
Type: Add-on Acquisition M&A Deals 5 of 5
Country: France M&A 6 of 6
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-20 CROWD

Hilversum, Netherlands

CROWD is a provider of cycling infrastructure and sustainable street furniture. CROWD was founded in 2014 and is based in Hilversum, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-30 Jogam Group

Pierres, France

Jogam Group is a manufacturing company specializing in precision machining, welding, stamping, and assembly for the aerospace, defense, and automotive sectors, among others. Jogam Group was founded in 1992 and is based in Pierres, France.

Buy -
DESCRIPTION

FFP Holdings is a private investment firm focused on acquiring minority interests in public and private companies. The Firm will consider opportunities throughout Europe and does not have any sector preferences. In addition to direct minority investing, FFP also invests in private equity funds. FFP Holdings is based in Neuilly sur Seine, France.


DEAL STATS #
Overall 1 of 1
Sector: Renewable Energy M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: France M&A 1 of 1
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-12 Total Eren

Paris, France

Total Eren has built up a substantial and diversified portfolio of wind, solar and hydraulic assets representing an installed gross capacity of 650 MW in operation or under construction worldwide. The company is currently developing numerous projects in Asia-Pacific, Africa, and Latin America. Its objective is to achieve a net installed capacity of at least 3 GW by 2023. Total Eren is based in Paris.

Buy -
DESCRIPTION


DEAL STATS #
Overall 17 of 21
Sector: Renewable Energy M&A 1 of 2
Type: Add-on Acquisition M&A Deals 4 of 6
Country: France M&A 17 of 21
Year: 2023 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-19 Lumiplan

Saint-Herblain, France

Lumiplan imagines, designs and implements innovative solutions to enhance the territories by providing turnkey communication solutions for non-advertising information for citizens and travelers. Lumiplan was founded in 1972 and is based in Saint-Herblain, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-04 Otico

Chalmaison, France

Otico specializes in the production by extrusion and injection of tires as well as in the design of wheels and rollers to equip all agricultural tillage machines (cultivators, seeders, planters, fertilizers, hoeing, strip-till, etc.). Otico was founded in 1971 and is based in Chalmaison, France.

Buy -
DESCRIPTION

NextWorld Evergreen is a private investment firm focused on long-term investments in growth-oriented companies in the personal care, food, and beverage sectors. The Firm will consider opportunities throughout the US with revenues between $10 and $100 million. NextWorld Evergreen generally pursues majority investments, however the Firm will consider selecting minority situations as well. NextWorld Evergreen was established in 2016 and is headquartered in San Francisco, California.


DEAL STATS #
Overall 4 of 5
Sector: Renewable Energy M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 3
Country: France M&A 2 of 2
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-19 Sambazon

San Clemente, California, United States

Sambazon is a provider of chilled, açai-based products and is a pioneer in bringing açai to US consumers. The açai (ah-sigh-EE) berry is a grape-like fruit harvested from açai palm trees and consumed in Brazil as a purée in bowls with granola and fruits. The products range includes organic frozen pulp, sorbets, smoothies, juices, energy drinks and supplements. Its main focus is to distribute its products to grocery and natural stores as well as juice bars across the US and Asia (Japan and South Korea). Sambazon was founded in 2000 and is based in San Clemente, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-14 Alter Eco

San Francisco, California, United States

Alter Eco is a manufacturer of premium organic dark chocolate bars, truffles, granola, and quinoa and markets its products in the U.S., Canada, Australia, and New Zealand. The company’s products are primarily sold through the organic/natural retail channel and the bars and truffles represent the number one dark chocolate retailed in this sector. The company’s full-cycle manufacturing process is 100% carbon neutral, product packaging is recyclable including compostable truffle wrappers. Alter Eco was founded in 2005 and is based in San Francisco, California.

Sell -
SELLER

TotalEnergies

Courbevoie, France

Category Company
Founded 1924
Sector Oil/Gas Exploration
Employees62,796
Revenue 195.6B USD (2024)
DESCRIPTION

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables, and electricity. TotalEnergies was founded in 1924 and is based in Courbevoie, France.


DEAL STATS #
Overall 11 of 12
Sector: Renewable Energy M&A 2 of 2
Type: Add-on Acquisition M&A Deals 1 of 1
Country: France M&A 7 of 8
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-16 TotalEnergies - European Assets

Paris, France

TotalEnergies's European Assets comprise 100% of TotalEnergies retail assets in Germany and the Netherlands as well as a 60% controlling interest in the Belgium and Luxembourg entities.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-28 Ombrea

Aix-en-Provence, France

Ombrea is a provider of an agricultural services. Ombrea was founded in 2016 and is based in Aix-en-Provence, France.

Buy -