Ardian, an independent private equity investment company, agreed to acquire Nevel, a district heating and industrial energy solutions company, from Vapo Group, a heat, electricity and steam producer, for €656m. The completion of the transaction is subject to competition authority clearances in Finland and Sweden. “Nevel is a perfect fit with our strategy for sustainable energy and our asset portfolio in the Nordics. Nevel’s and our goals are aligned and we will aim to make it the go-to platform for municipalities and industrial companies seeking to outsource energy services through sustainable solutions,” Simo Santavirta, Ardian Infrastructure Senior Managing Director and Head of Asset Management.