We advised Infracapital and AMP Capital on the sale of their combined ownership interest in Adven, a leading provider of clean energy solutions across the Nordics and Baltics. As a result of the transaction, institutional investors advised by J.P. Morgan Asset Management will take over ownership.
Regional market leader for outsourced clean energy
Infracapital, the infrastructure equity investment arm of M&G and AMP Capital have owned Adven since January 2016, during which they have worked with the business to achieve a number of significant milestones. These milestones include successfully entering the Latvian and Norwegian energy infrastructure markets as well as significantly expanding their business’ presence in the Swedish market, becoming the leading provider of outsourced clean energy in the region.
Looking to reduce CO2 emissions across the Nordics and Baltics
Comments Martin Lennon, Head of Infracapital: “We are proud of the significant growth of Adven under our ownership. In line with our ambition to invest in essential infrastructure to support both long-term economic growth and deliver positive societal impact we have leveraged our experience and expertise to transform the business into the leading provider of clean energy solutions to industrial clients in the Nordics. Alongside AMP Capital and Adven’s management team, we have worked together to establish a strong platform for Adven’s continued success, and we wish the new owners, the management team and employees every success in the future. We are confident that Adven will continue to play a critical role in reducing CO2 emissions across the Nordics and the Baltics.”
Adds Jyrki Vainionpää, CEO of Adven Group: ”Our mission is to find, build and run energy solutions of tomorrow that benefit business, people and the planet. We are very happy to have a leading infrastructure investor as our new owner. We would like to thank our current owners Infracapital and AMP Capital for their strong support on our joint journey so far and look forward in pushing our ambitious future agenda forward with our new owner.”
Our client team and services
We advised Infracapital and AMP Capital in all stages of the transaction from legal due diligence to negotiating the transaction. The client team included partners Piret Jesse and Eva Berlaus, counsel Pirkko-Liis Harkmaa and Andis Burkevics, senior associates Britta Retel, Kaspar Endrikson, Mirjam Vichmann, Piibe Lehtsaar, Piret Lappert, Robin Teever, Sandra Mikli, Andris Vilisons, Renate Purvinska, Viktorija Smirnova-Cerkasa and Zanda Frisfelde along with associates Mario Sõrm and Liva Aleksejeva.