Energy, Estonia, EU – Baltic States, Legislation, Mergers and take-overs

Photo: adven.ee

Matti Viljo, CEO of Adven, said that during EQT Infrastructure's ownership, Adven has changed its strategic direction and now has a significant potential for the future.

"We are excited to keep developing the Company together with AMP Capital and Infracapital and to continue executing on our strategy. Our vision is to become the most desired energy partner by offering our customers the possibility to focus on their core business and feel safe with letting Adven provide them with energy as a service," Viljo said.

Boe Pahari, AMP Capital global head of infrastructure equity, described Adven as a great fit for AMP Capital's global infrastructure platform due to its attractive risk-return profile and growth prospects. "Energy is also a key target area for AMP Capital due to its significant growth opportunities," he said.

Ed Clarke, co-founder of Infracapital, said: "Adven is a great addition to Infracapital Partners II, providing good cash flows while also offering a range of growth opportunities which we intend to explore, leveraging our own expertise in these technologies and geographies."  

Adven operates as an industrial and commercial outsourced energy infrastructure and services provider in Finland, Sweden and Estonia. Adven delivers energy at around 140 industrial sites, owns and operates around 50 district heating sites and networks, and 15 geothermal sites corresponding to an installed capacity of approximately 1,500MW.

Adven's EBITDA in 2014 amounted to 30 million euros.