Antin Acquires SNRG, a UK Developer and Operator of Smart Grids
19 April 2022 - 4:00PM
Business Wire
Acquisition represents the first investment
in its NextGen strategy
Regulatory News:
Antin Infrastructure Partners (“Antin”, Ticker: ANTIN – ISIN:
FR0014005AL0) announced today that it has entered into an agreement
to acquire a majority stake in SNRG, an owner-operator of fully
integrated smart grid systems for both residential and industrial
& commercial customers.
The acquisition is the first made by Antin as part of its
NextGen strategy announced last year. SNRG provides an innovative
solution to decarbonise buildings whilst delivering significant
savings to its customers. Building emissions contribute c.20% of
total UK CO2 emissions due to a historic reliance on fossil fuels,
including gas, to provide heat to buildings. For the UK to meet its
Net Zero 2050 targets it will need to reduce those emissions by 40%
by 2030.
SNRG offers customers a ‘one-stop-shop’ for smart grid solutions
comprising grid connections, distribution networks, solar PV
panels, batteries, heat pumps and community EV charging. This
integrated approach - design, fund, build & operate - combined
with SNRG's optimisation technology will maximise upfront and
ongoing cost savings and carbon emissions reduction for
customers.
SNRG was formed in 2018 with backing from Centrica, a leading
energy services and solutions provider, and Centrica will retain a
stake in the Company. SNRG has a high-quality management team that
has significant experience in scaling up businesses within the
energy and technology space. SNRG has established strong
relationships within the developer community as well as expertise
in delivering software and infrastructure solutions.
Shane Hussain, SNRG CEO stated: “As the all-electric,
zero-carbon transition gathers pace in the domestic and
non-domestic building sectors, customers are seeking next
generation infrastructure solutions. Antin’s investment in SNRG
along with Centrica’s continuing involvement will allow us to scale
rapidly and meet the demand that is being driven by policy and
society. We look forward to delivering low and zero carbon
buildings throughout the UK."
Anand Jagannathan, Antin NextGen Senior Partner commented: “With
its first project implemented and a proven concept looking to be
rolled out, we felt SNRG was the right company to launch our
NextGen strategy with, as it focuses on value-added investing in
sustainable, scalable and connected assets. We are excited at the
opportunity to support SNRG in achieving the next phase of its
growth, through the build-out of a significant, identified pipeline
of projects procured through its relationships with major
developers.”
Financial details of the transaction were not disclosed. The
transaction is expected to close in April of 2022.
White and Case and Gowling WLG acted as legal advisors to Antin.
Osborne Clarke acted as legal advisors to SNRG and Freeths LLP
acted as legal advisor to Centrica.
About SNRG
SNRG is a developer, installer and operator of smart grid
networks in the UK. The Company was formed in 2018 with backing
from Centrica with a mission to provide decarbonisation solutions
to homes as well as industrial and commercial customers. The
Company’s innovative solution delivers savings to customers on
their energy bills in addition to decarbonising their energy
consumption. SNRG today has an initial live project in Corby, UK
which has been successfully demonstrating the business model of
delivering savings to residents whilst also providing low-carbon
energy.
About Antin Infrastructure
Partners
Antin Infrastructure Partners is a leading private equity firm
focused on infrastructure. With over €22.7 billion in assets under
management across its Flagship, Mid Cap and NextGen investment
strategies, Antin targets investments in the energy and
environment, telecom, transport and social infrastructure sectors.
With offices in Paris, London, New York, Singapore and Luxembourg,
Antin employs over 165 professionals dedicated to growing,
improving and transforming infrastructure businesses while
delivering long-term value to portfolio companies and investors.
Majority owned by its partners, Antin is listed on Euronext Paris
(Ticker: ANTIN – ISIN: FR0014005AL0).
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version on businesswire.com: https://www.businesswire.com/news/home/20220418005456/en/
Antin Infrastructure Partners Nicolle Graugnard,
Communication Director Email: nicolle.graugnard@antin-ip.com
Ludmilla Binet, Head of Shareholder Relations Email:
shareholderrelations@antin-ip.com
Brunswick Email: antinip@brunswickgroup.com Tristan
Roquet Montegon +33 (0) 6 37 00 52 57 Gabriel Jabès +33
(0) 6 40 87 08 14
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