7 March 2022
InfraVia has reached an agreement with a Macquarie Asset Management led consortium to sell Reden Solar
InfraVia, has reached, alongside its partner Eurazeo, an agreement with Macquarie Asset Management, in a consortium with British Columbia Investment Management Corporation (BCI) and MEAG, to sell Reden Solar, a leading European independent solar power producer.
Reden Solar, currently owned by InfraVia (53%) and Eurazeo (47%), is active across eight countries, with more than 750 MW in operation and a sizable maturing pipeline.
This transaction is based on a €2.5bn Enterprise Value.
Since InfraVia’s acquisition in 2017, Reden Solar has developed its asset base, including platform management, structuring and expansion through a combination of organic and external growth. Capitalizing on our long-standing experience in the sector, Reden Solar’s seasoned management team has increased the group’s capacity by 8x and its EBITDA by more than 4x over the past five years. The group has also extended its footprint across Southern Europe, bolstering its market positions.
The completion of this transaction remains subject to regulatory and antitrust approvals.
Vincent Levita, Founder and CEO of InfraVia said:
« We have been extremely pleased to accompany Reden Solar during this development phase. This success proves our strategy right based on a strong sector conviction on renewable energy, an excellent management team and a disciplined buy-and-build approach. We have provided the group with a comprehensive set of resources that have paved the way for Reden Solar’s transformation into a fully integrated platform and a leading European independent solar power producer. The group is now focused on large and stable high growth markets, with a strong track-record and a sizable pipeline. We are convinced that this Macquarie led consortium will continue the development of Reden Solar with the management team. »
Our advisors on this transaction are Citigroup and Nomura (M&A); Weil, Gotshal & Manges (legal advisors); E&Y (financial advisors); Baringa (commercial); Rina and Enertis (technical).