Partners Group buys VSB majority stake

VSB's founder and managing director, Andreas Dorner, will retain a minority stake in the business.

Partners Group said in a statement that the transaction value includes a significant allocation to fund the company's future growth, enabling the possibility to retain ownership of assets and develop an independent power producer.

A source close to the situation told Unquote that the deal was sourced on a proprietary basis, found by mapping the developer space in renewable energy in Europe and through analysis of renewables platforms within that space.

Unquote understands that Partners Group drew equity from a number of funds, including PG Life, its global impact-focused fund that is targeting $1bn. The vehicle seeks exposure of 75% equity and 25% debt. The GP also invested from its Direct Infrastructure fund.

The same source added that the current financing package from NIBC will be rolled over and no additional debt was provided for the acquisition.

Company
VSB provides project development and energy farm management services for companies and projects in the renewable energy sector. It develops, owns and operates renewable energy production facilities. It also offers asset management and commercial management services, and assists with construction, maintenance and repair of renewable energy production equipment.

Headquartered in Dresden. VSB operates in eight countries, with 19 offices and 10 service hubs. It has a headcount of 300 and was founded in 1996.

People
VSB Group – Andreas Dorner (founder, managing director).
Partners Group – David Daum (member of management, private infrastructure Europe).

Advisers
Equity – CMS (legal); Aurora (financial due diligence); EY (corporate finance).

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• Topics
• DACH
• Infrastructure
• Germany
• Partners Group