Aurora currently owns the electricity networks at two of Finland’s largest and strategically important industrial sites which represent 6% of Finnish electricity consumption: the AKO network serving the Kilpilahti industrial area, near Porvoo – the largest integrated chemical cluster in the Nordics; and the ATO network in Tornio, serving Outokumpu’s ferrochrome and stainless-steel manufacturing facility –the only fully integrated stainless-steel facility in the world. Aurora’s customers are blue-chip international industrial companies.

Tony Lindroos, CEO of Aurora, commented: “This is a significant milestone in our journey, and is welcome news for everyone at Aurora. Equitix will actively support Aurora’s expansion and investment in the network infrastructure, helping us to continue to deliver industry leading availability and reliability levels for our customers and supporting them in meeting their energy transition plans.”

Bruno Candès, Partner of InfraVia, said: “We have been extremely pleased to accompany Aurora over the last eight years. We have provided the group with a comprehensive set of resources that have paved the way for Aurora’s transformation into a leading independent distribution network in Finland. We are convinced that Equitix will continue the development of Aurora and support its customers to achieve their electrification and energy transition objectives.”

Achal Bhuwania, Chief Investment Officer at Equitix, said: “We recognise the mission critical nature of the Aurora networks for its customer operations. We are delighted to be a part of the future of Aurora and be able to partner with the management team in order to further expand and upgrade what is already a great platform.”

The terms of the transaction are not disclosed and the closing of the transaction is subject to the receipt of customary regulatory approvals.

InfraVia was advised on the transaction by Jefferies International Limited (financial), Roschier (legal), PWC (tax & accounting) as well as Afry (technical).

Equitix was advised by Macquarie Capital, PwC (joint financial advisers) and Linklaters (legal).