Infrastructure
UK - HgCapital expands UK Wind Farm portfolio
HgCapital's portfolio company RidgeWind has acquired equity rights to a pipeline of 90MW wind farms from co-developer Wind Prospects. RidgeWind has also completed the £18m project financing of the Bagmoor Wind Farm.
FRANCE – Meridiam closes EUR 600m infrastructure fund
Crédit Agricole subsidiary Meridiam Infrastructure has closed a EUR 600m fund. The fund will be dedicated to investments in infrastructure projects financed by public/private partnership contracts or subject to concessions.
Infra a shock
The liquidity bubble came to define the term infrastructure and gave a false picture of market depth. Private equity firms’ keen on snatching a piece of the infrastructure pie should be warned: there may not be enough to go around.
UK - One Equity invests $150m in Clipper Windpower
One Equity Partners will invest $150m into Clipper Windpower Plc, a manufacturer of wind turbines and developer of wind energy projects. The new funds will be used to finance Clipper’s ongoing working capital requirements and strategic supply chain...
UK - Montagu bid for Biffa safe after Terra Firma and Suez pull out
Montagu Private Equity's recommended offer for Biffa, the waste disposal group, is to go ahead uncontested after Terra Firma, which was thought to be preparing a counterbid alongside French utility group Suez, backed away from the deal. The Montagu-consortium...
SPAIN - Abraxa launches two renewable energy funds
Abraxa Integrated Financial Solutions has been granted authorisation by the Spanish stock exchange regulator CNMV to launch two funds - Abraxa Capital Privado II and Abraxa Capital Privado III.
A new frontier
Sovereign wealth funds have the resource to emerge as serious challengers to private equity in the M&A space. However, unless they address transparency concerns these ambitions are likely to be thwarted by protectionist government intervention.
UK - Infrastructure player crashes Biffa deal with £1.5bn offer
Global Infrastructure Partners (GIP) is reported to be making a £1.5bn offer for waste services company Biffa. Last month, Biffa opened its books to HgCapital and Montagu Private Equity after they made a £1.2bn joint bid for the London-listed group.
UK - Foresight and Mouchel announce £50m cleantech collaboration
Foresight Group has announced the formation of a strategic partnership with consulting and business services group Mouchel, designed to develop cleantech infrastructure projects in the UK. The initial aim of the partnership is to invest up to £50m in...
GERMANY – Advent International sells SAG to EQT V
Advent International has sold SAG, a European provider of energy-related infrastructure services to utilities, to EQT V, for an undisclosed sum. SAG provides build and maintenance outsourcing services for utilities in their transmission and distribution...
EUROPE - CVC launches new infrastructure business
CVC Capital Partners has announced the launch of a new infrastructure investment business, with Stephen Vineberg appointed as chief executive.
UK - LDC-backed Epi-V completes its first investment
Specialist oil and gas private equity fund Epi-V has completed its first transaction, investing £3m in Aberdeen-based Brinker Technology. The £50m Epi-V fund was launched in August 2007 with the aim of making equity investments of between £2m and £10m...
UK - Henderson strengthens infrastructure team
Henderson Equity Partners has expanded its infrastructure team with the appointment of Jasvinder Bal, Michael Jaffe and Chris Tanner as principal.
GERMANY - 3i Infrastructure invests in Oiltanking
3i Infrastructure has acquired a 45% stake in Oiltanking Singapore Ltd, Oiltanking Amsterdam BV and Oiltanking Malta Ltd (the OT companies) for a total price of $305m. The investment comprises an equity consideration of EUR 115m and a debt package worth...
UK - Global Infrastructure appoints Joseph Blum as partner
Global Infrastructure Partners (GIP) has appointed Joseph Blum as a partner and general counsel, based at the company’s London office. Blum will join GIP on 1 July 2007. He has extensive experience in representing sponsors and financial institutions...
UK - Montagu exits Cory in £588m deal to ABN AMRO Infrastructure
Montagu Private Equity has sold waste management company Cory Environmental Holdings to a consortium led by ABN AMRO Infrastructure Capital for £588m. The sale through acquisition vehicle Viking Consortium Holdings Ltd enables Montagu to exit following...
FRANCE - Candidates prepare bids for Saur
LBO France, Terra Firma, AXA Private Equity and Eurazeo are said to mulling bids for water utility company Saur, according to reports in the French press.
UK - Star Capital Partners in £141m flight simulator deal
Star Capital Partners has acquired two flight simulator operators for a total consideration of £141m. The investment is being made from its second infrastructure fund leading commentators to suggest that high demand for infrastructure assets is resulting...
GERMANY – Macquarie raises its bid for Techem
Macquarie Infrastructure Fund II has increased its offer of EUR 44 to EUR 55 per share for the German utility billing specialist Techem AG. At the same time the financial investor increased its stake in the company by 8%, buying the additional shares...
GERMANY - 3i reinforces infrastructure team
3i has strengthened its German infrastructure team with the appointment of Uwe Danziger. A chartered accountant and qualified banking clerk, Danziger will lead 3i's German infrastructure activities.