Tikehau Capital signs an agreement to acquire Acek's Spanish biomass business

Tikehau Capital, through its private equity fund dedicated to energy transition, has signed an agreement to invest in the biomass assets of Acek Energias Renovables.

The transaction, representing an enterprise value of EUR81 (US$90.5) million (in addition to earn-outs), is the first investment of Tikehau Capital’s private equity funds in Spain.

The transaction includes the 17 MW biomass plant in Garray (Soria), several long-term operation and maintenance contracts in Spain and Portugal, as well as its industry-leading engineering business in Puerto de Santa Maria (Cadiz).

The acquired business employs over 120 people and generated a turnover of EUR64 (US$71.5) million in 2018.