Transactions & Finance

Tikehau Capital makes first private equity investment in Spain

Tikehau Capital has made its first private equity investment in Spain after agreeing a deal to acquire  Acek Energias Renovables’ renewables business.
Carmen Alonso

© Leaders League

Tikehau Capital has made its first private equity investment in Spain after agreeing a deal to acquire Acek Energias Renovables’ renewables business.

The deal is valued at €81 million.

Acek Energias Renovables established its biomass division in 2009. It focusses on the engineering, construction, operation and maintenance of biomass energy plants (power, heat or combined heat and power), as well as the supply of biomass.

The transaction includes the 17 megawatt (MW) biomass plant in Garray (Soria), several long-term operation and maintenance contracts in Spain and Portugal, as well as its engineering business in Puerto de Santa Maria (Cadiz). The acquired business employs over 120 people and generated a turnover of €64 million in 2018.

This acquisition is made through Tikehau Capital’s Energy Transition Fund, a pan-European private equity fund focused on the development, transformation and international expansion of medium-sized energy transition companies.

Carmen Alonso (pictured), head of Iberia at Tikehau Capital, said: "We are pleased to invest in an integrated platform in the biomass sector in Spain and Portugal. The company enters a new phase supported by Tikehau Capital. Alongside its management team, we aim at creating a leading integrated bioenergy player”.

The company will continue to be led by Emilio López Carmona, who has led the expansion of the biomass business of Acek Energias Renovables since 2009. He said: “We share values and commitment with Tikehau Capital to face the challenge of a carbon neutral and sustainable economy. It is a very important step that will release the potential of our organization to provide integrated solutions in the bioenergy and circular economy sectors in Europe”.

Emmanuel Laillier, head of private equity at Tikehau Capital, said: “We are delighted to invest in the biomass assets of Acek Energias Renovables. It is crucial that companies which can have a direct impact on the environment today have the necessary means to grow. Equity investment, which Tikehau Capital provides, is an effective way to support energy transition actors unlocking entire value chains by giving them the means to develop solutions to drive the decarbonisation of the energy sector”.

Read the full Special Report: SPAIN

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