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 Investec 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.