Transactions & Finance

Spain’s Asterion Agrees €63m Deal to Acquire AMP Clean Energy

Spanish infrastructure investment manager Asterion Industrial Partners’ subsidiary Fossa Holdco has agreed a €63 million deal to acquire UK heat and power distributor AMP Clean Energy.
Jesús Olmos

© Leaders League

Spanish infrastructure investment manager Asterion Industrial Partners’ subsidiary Fossa Holdco has agreed a €63 million deal to acquire UK heat and power distributor AMP Clean Energy.


Under the terms of the acquisition, AMP Clean Energy shareholders will receive 90 pence in cash for each AMP Clean Energy share.


AMP Clean Energy is an energy company which supplies biomass wood fuel, develops low carbon heat and power assets, and invests in companies that support decarbonisation.


A Herbert Smith Freehills team led by Alberto Frasquet advised Asterion on the deal, while Travers Smith acted for AMP Clean Energy. Asterion was also advised by KPMG, while AMP Clean Energy’s financial adviser was Evercore. AMP Clean Energy was also advised by FinnCap and Whitman Howard.


In the year to 31 March 2019, AMP Clean Energy’s revenues increased 14.5 per cent to €49.5 million, while gross profit was €10.8 million. The businesses’ net assets are valued at €24.1 million.


Jesús Olmos (pictured), founding partner and chief executive of Asterion, said: “We are excited about the opportunity to work with AMP Clean Energy in the increasingly important segment of distributed energy and energy efficiency and thereby to contribute to the clean energy transition in the UK.”


Richard Burrell, chief executive of AMP Clean Energy added: “This transaction not only represents an attractive offer price for AMP Clean Energy, but it ensures AMP Clean Energy has the right partner to help fund its next phase of growth to help UK businesses unlock the potential of decentralised, low carbon energy which supports the UK’s transition to a low carbon economy.”


He continued: “With access to further capital from Asterion, AMP Clean Energy will be able to continue to capitalise on its key strength of developing, operating and aggregating small-scale assets and in doing so, delivering energy close to the point of consumption, where and when it is needed most.”

Read the full Special Report: SPAIN

NEWS & ANALYSIS
Summary Private equity and venture capital investment in Spain hits record high Galp agrees €2.2bn solar PV projects deal with ACS Group ‘Funds fostering gender diversity achieve better returns’ DAC Beachcroft Incorporates Spain's Asjusa Abogados Former Spanish defence minister Dolores de Cospedal joins CMS Iberia Boss Luis Gallego to Take Over at IAG Del Rosal & Adame Recruits Iñigo Segrelles de Arenaza as Partner Ergon Capital Buys Majority Stake in Palex From Corpfin Capital Esteve Sells Generic Drugs Division to Towa Pharmaceutical for €320m Nexxus Iberia Confirms Investment in TwentyFour Seven

interview

Accenture's CEO and CFO interview by Leaders League Group

About us

Download