Via Venture and ATP in DKK 1.6bn exit of Neas to Centrica

ATP and Via's exit comes just a year after the two invested DKK 500m in Neas for 12% and 18% stakes, respectively. Neas's equity was valued at DKK 1.9bn in the deal.

The original investment consisted of a DKK 250m equity injection from Via and ATP, with an additional DKK 250m loan provided by the pension fund. According to local media reports, Via and ATP stand to make a combined DKK 320m profit on the sale of their joint 30% equity stake.

Centrica will acquire the entire share capital of Neas from ATP and Via, as well as existing shareholders Dreisler Invest, Eigild B Christensen and key staff. Neas will be assumed under Centrica's Energy Marketing & Trading (EM&T) division following the transaction, which is subject to EU competition authorities' approval.

Via's stake in Neas was held in the GP's Via Venture Partners Fond II, a 2010-vintage €134m vehicle, to which ATP provides 99.8% of the capital commitments.

Company
Headquartered in Aalborg, Neas is an energy asset management and trading company.

The business offers physical and financial optimisation of both renewable and traditional energy-producing assets across 18 European energy trading markets. In addition to its trading activities, Neas also manages a portfolio of energy assets with a total capacity of 8,600 MW, primarily produced from wind, solar and thermal sources.

Neas has additional offices in London, Hamburg, Düsseldorf and Stockholm, and posted turnover of DKK 20.4bn in 2015 with EBITDA of DKK 197.5m.

People
Via Venture Partners – Peter Thorlund Haahr (partner).

Advisers
Vendor – Kromann Reumert (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Nordics
• Financials
• Denmark
• ATP
• Via Venture Partners
• Trade sale