3i's Valorem bolts on Force Hydraulique Antillaise

The transaction will be funded via Valorem's balance sheet and external debt. The company bought FHA from its previous owner, InfraVia Capital Partners.

Founded in 2008, InfraVia invests in Europe-based infrastructure mid-market companies and currently manages €4bn in assets.

The acquirer will support the acceleration of the conversion of FHA's pipeline into operational plants.

3i Infrastructure acquired a stake in Valorem for €57m from Omnes Capital and others in 2016. Buying a 28.5% stake, 3i also committed to invest a further €12m over the following three years with an intention to increase the company's owned installed capacity.

Valorem was founded in 1994 and is based in Bègles. It is a renewable energy operator that develops renewable energy projects for its own account and on behalf of third parties. Valorem currently has an owned asset base of solar, wind and hydro power of 340MW in France (including plants under construction).  A further 150MW is expected to be financed in the coming 24 months.

Company
Founded in 1999 and based in Saint-Claude, FHA provides renewable electricity generation services in the French Caribbean islands, a territory heavily dependent on fossil fuels. The business owns 10.4MW of small-scale operational plants, 6.4MW of ready-to-build assets and has a further pipeline of 100MW. 

People
Valroem – Jean-Yves Grandidier (CEO).
Force Hydraulique Antillaise – Raphael Gros (founder, CEO).

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