OX2 finalizes the acquisition of ESCO Pacific

OX2 has completed its acquisition of ESCO Pacific for AUD126 million (US$85.4 million) on a debt-free basis. The purchase price includes a contingent consideration of up to AUD17 million (US$11.5 million) to the founder, based on sales and margins of the acquired project development portfolio in 2025-2027.

OX2 sees the Australian renewable energy market as offering significant growth opportunities and has identified plans to increase the value of ESCO Pacific by expanding its product offering to include turnkey solutions, scaling up operations through acquisitions, and expanding to onshore wind.

OX2's acquisition of ESCO Pacific is expected to help accelerate the growth of the industry in Australia.