Merger Links

KKR and Infracapital to invest £870m in Zenobē.

Announced

Transaction Tags

  • battery production
  • battery supplies
  • United Kingdom
  • Alternative Fuels
  • Cross Border
  • Majority
  • Private Equity
  • Friendly
  • Acquisition
  • Private
  • Pending
  • Single Bidder

Synopsis

Investment companies KKR, Infracapital and Pantheon agreed to invest £870m in Zenobē, an EV fleet and grid-scale battery storage specialist. KKR has agreed to invest c.£600m into Zenobē, with existing investor Infracapital agreeing to invest a further c.£270m and Pantheon co-investing alongside Infracapital £35m. This marks the exit of Tiger Infrastructure Partners from Zenobe. "This major investment in the next stage of Zenobē's growth, by one of the leading names in infrastructure private equity, culminates a journey of first-mover leadership by the company's founders and Tiger. Zenobē's visionary management catapulted the company to the forefront of the energy transition worldwide by creating the first global, grid-scale battery energy storage company, and first to provide a full EV fleet solution," Emil W. Henry, Tiger Infrastructure Partners CEO.

Sources

Press Release

Tiger Infrastructure Partners

Press Release

KKR

Press Release

Zenobe

Transaction Value

£870m

Consideration Type

Cash

Capital Owned

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Capital bid for

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EV/Sales

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EV/EBITDA

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Share Price Premium

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Service Providers (7)Dealmakers
Hill+knowlton Strategies

pr advisors

Hill+knowlton Strategies

Barclays

financial advisors

Barclays

Fgs Global

pr advisors

Fgs Global

Clifford Chance

legal advisors

Clifford Chance

Nomura

financial advisors

Nomura

Teneo

pr advisors

Teneo

Debevoise & Plimpton

legal advisors

Debevoise & Plimpton

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