Coillte / Greencoat Renewables
Coillte CGA has sold its stake in four utility-scale, recently commissioned operating wind farms totalling 105MW net capacity, to Greencoat Renewables plc.
The wind farms, situated in counties Wicklow, Cork, Galway and Roscommon were all co-developed by Coillte with blue-chip partners, including the ESB, Bord na Mona and SSE.
Greencoat Renewables plc is an investor in euro-denominated renewable energy infrastructure assets, and is focused on the acquisition and management of operating wind farms in Ireland. It is managed by Greencoat Capital, an experienced investment manager with a track record of making acquisitions and delivering strong shareholder returns in the listed renewable energy infrastructure sector in the UK.
Coillte, Ireland’s largest commercial forestry company, manages approximately 7% of the country’s land with a forestry and land estate of 441,000 hectares of which 351,000 are forested. Coillte operates three strong businesses from this land – its core forestry business, a wood panel manufacturing business (MEDITE SMARTPLY) and a land solutions business (Coillte Land Solutions). The company exports to over 30 countries worldwide, and in the financial year to 31 December 2017 generated an EBITDA of US$97 million from its US$1.7 billion of assets.
Oaklins’ team in Ireland acted as joint financial advisor to the seller, providing advice in relation to strategy, valuation and negotiation, in addition to the preparation of key sale materials and overall process management.
“Over the past 60 years we are proud to have built a market leading business. We are now delighted that in Safe Fleet we have found a great home for our business to continue to grow, innovate and support both our employees and customers.
Our advisor Joe Stelzer at finnCap Cavendish tirelessly assisted us through the process and was on hand at each and every step of the journey.”
“This transaction is a hugely significant milestone in KMP’s development, strongly positioning the business for its next phase of growth, allowing us to extrapolate our already strong global reach with opportunities for economies of scale across complementary brands and products.
I am grateful for the invaluable advice, support and guidance provided by Joe Stelzer and his team throughout the process.”
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“The completion of the Nactis deal took years, from beginning to completion, for many reasons that were mostly out of our control. Oaklins’ team in Italy accompanied us in this process – from the initial contact to closing – with professionalism, patience and many proactive proposals. Without their cooperation, the deal would never have happened.”
“We chose Oaklins to assist us in this project because they are the most experienced corporate finance advisor in the horticulture sector and at the same time have a local and experienced team in Belgium. By operating as one team, they offered us the best of both worlds.”
“Oaklins was the right partner to professionally manage the process. They assembled an experienced team who carefully took into consideration the preferences of a family-owned business. At every step along the way, we enjoyed working together with Oaklins’ team in the Netherlands, who showed great persistence to make this transaction a success.”
“For us who founded the company and managed it during its 30 years of existence, Oaklins was the perfect partner for our sale. The team planned and executed our process, supported and guided us through the whole process. The combination of industry insight, professional craftsmanship and uncompromising dedication, made it a valuable contribution from an owner’s perspective.”
“The Cavendish Team, led by Alistair and Mike, did a fantastic job managing the process, providing valuable advice and identifying Arbuthnot as the right partner for the business. It was a pleasure working together and we are pleased to have achieved a brilliant outcome for the company.”
“For 30 years, the team has advised Arran Isle on strategic transactions. We selected them to manage the divestiture of our US operations not just because of this relationship, but also their sector knowledge, and critically, their value realization proposition. They were with us every step of the way and did a great job throughout, ultimately delivering a strong value on the time schedule set forth at the outset of the process. The team managed communication and negotiations with professionalism and vigour. The team’s industry knowledge, attention to detail and total immersion in every aspect of the transaction were truly impressive. We sincerely appreciate their efforts and the result they achieved for us.”
“When we launched the M&A process with the Oaklins German team in the spring of 2018, it was important to us from the start to find a new majority shareholder who is familiar with our industry and who ensures that our employees will have a long-term future in Fraureuth. We are very proud of what we have achieved with our loyal and valued employees over the past 25 years. We believe to have found an ideal partner and are looking forward to working with Avedon.”
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