Enso seizes opportunity with Igneo acquisition
Deal News | Jan 14, 2025 | Finance Community ES 2 - Corporate M&A
First Sentier Investors (FSI), via its fund Igneo Infrastructure Partners, completed the acquisition of Enso, a leading Spanish biomass company. This strategic acquisition includes Enso's assets under Gestamp Biomass and its Portuguese operations through Magesto. Previously owned by T2 Energy Transition Fund, Enso produces over 100,000 MWh of renewable energy annually and manages a biomass portfolio exceeding 200 MWe across Spain and Portugal. The acquisition aligns with Enso's €450 million investment plan to develop 400 MWth of thermal biomass projects over the next three years, aiming to reduce carbon emissions by 500,000 tons annually. The acquisition further strengthens Igneo Infrastructure Partners' presence in the energy sector, complementing its existing portfolio, which includes Finerge, Portugal's second-largest renewable energy producer. The acquisition also significantly supports Igneo's mission to expand in sustainable energy assets. Elias Hernández, CEO of Enso, will continue to lead the growth and sustainability initiatives.
Sectors
- Renewable Energy
- Infrastructure
- Private Equity
Geography
- Spain – Enso is a Spanish company producing biomass energy, central to the acquisition.
- Portugal – The acquisition includes Enso's operations in Portugal, emphasizing the cross-border nature of this transaction.
Industry
- Renewable Energy – The article revolves around the acquisition of Enso, a biomass energy company, indicating a focus on renewable energy generation.
- Infrastructure – The involvement of Igneo Infrastructure Partners suggests a broader consideration of infrastructure investment beyond just energy production.
- Private Equity – The acquisition involves a private equity fund, suggesting a focus on investment activities and fund management in the sector.
Financials
- 450 million euros – The investment plan of Enso to develop biomass projects over the next three years.
- 100% of shares – First Sentier Investors' acquisition of all Enso shares through Igneo Infrastructure Partners.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Enso | Target Company | Company | A leading Spanish biomass energy company producing renewable energy. |
| First Sentier Investors (FSI) | Bidding Company | Company | A global investment management group that owns Igneo Infrastructure Partners. |
| Igneo Infrastructure Partners | Acquirer | Company | A fund under FSI that completed the acquisition of Enso. |
| T2 Energy Transition Fund | Vendor | Company | The previous owner of Enso, launched by Tikehau Capital in collaboration with Total SA. |
| Tikehau Capital | Co-Vendor | Company | Co-launched the T2 Energy Transition Fund with Total SA. |
| Total SA | Co-Vendor | Company | Collaborated with Tikehau Capital to launch T2 Energy Transition Fund. |
| Gestamp Biomass | Subsidiary | Company | Holds the assets of Enso under the acquisition terms. |
| Magesto | Subsidiary | Company | Manages Enso operations in Portugal. |
| EY | Advisor | Company | Advised Igneo in the acquisition of Enso. |
| Elias Hernández | Individual | People | CEO of Enso who will continue to lead its growth initiatives. |