AMP Capital and Infracapital have announced an agreement to acquire a 100 per cent equity stake in Adven Group Oy, a provider of energy infrastructure and services.
Adven, which provides low carbon and co-located energy infrastructure to industrial users in Finland, Sweden and Estonia, was acquired by AMP Capital and Infracapital from EQT Infrastructure.
AMP Capital global head of infrastructure equity Boe Pahari said: “The asset is a great fit for AMP Capital’s global infrastructure platform due to its attractive risk-return profile, highly predictable and protected cash flows, and growth prospects in a sector where there are significant barriers to entry and where the competitive landscape is fragmented.
“Energy is also a key target area for AMP Capital due to its significant growth opportunities," he said.
In a statement issued by AMP, the co-owners said the asset has “significant growth potential” during the next five to seven years. The company also benefits from the growing interest in sustainability within its markets and is “geared to capture structural market growth”.
Infracapital co-founder Ed Clarke said Adven provides "good cash flows" and growth opportunities.
“We look forward to working with AMP Capital and with the management team to build upon the existing, substantial base of energy infrastructure,” Mr Clarke said.
Adven currently delivers energy to more than 220 sites.
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