Sale of BELECTRIC to RWE innogy

Sector(s)
Business Services / Industrials
Deal type
Carve out / Restructuring / Sell your business
Date
January 2017
Countries involved
Germany

Client

BELECTRIC is a privately owned company with sales of € 336m engaged in the design, installation, operation and maintenance of utility-scale photovoltaic power plants and large scale battery systems

Deal

Capitalmind advised BELECTRIC on its sale to RWE Group’s innogy

Parties

Lead team

  • Ervin Schellenberg

    Ervin Schellenberg

    Managing Partner Germany
  • Uwe Kroeger

    Uwe Kroeger

    Director Finance & Operations Germany

What we did

Challenging sale as BELECTRIC was at the tail-end of a corporate reorganisation from a European to a global business. We conducted a dual track process looking for acquirers or providers of financing. Formed an attractive target for investors out of a highly complex corporate structure. Achieved an attractive valuation – in particular for BELECTRIC’s newly developed battery technology which had generated only minor sales for far. Bridged views of private shareholders with those of a large corporate during the sales process. Managed to align the sales process with RWE’s IPO process for innogy

About the deal

BELECTRIC is globally active in the design and installation of utility-scale photovoltaic power plants and large scale battery systems. It has constructed more than 280 utility-scale PV power plants with a capacity of more than 1.5 GWp. Activities range from product design to plant construction right up to operation and maintenance services for PV power plants. Capitalmind conducted an international competitive sales process and sold BELECTRIC to innogy, a company of RWE Group.

RWE is a leading German utility with sales of almost € 50bn. Besides conventional power generation it is strong in wind and hydro power but lacks a position in solar energy. With the acquisition of BELECTRIC innogy is in a position to offer a full range of services in renewable energies. This will be a cornerstone of innogy’s IPO equity story.

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