The acquisition by Aggreko is designed to expand its presence in the renewable energy sector, with RenEnergy having a strong track record of delivering high-quality renewable energy projects across the UK and South Africa.
The Mills & Reeve corporate team worked alongside FRP Corporate Finance to advise RenEnergy’s owners on the sale.
Founded in 2006, RenEnergy has extensive expertise in renewable energy solutions in the solar carport and electric vehicle charging space. The company designs and delivers innovative renewable solar photovoltaics solutions to clients around the world. Its South African business also develops energy storage solutions to address that country’s unique energy challenges.
RenEnergy’s focus on cutting-edge technology and sustainability aligns with Aggreko's commitment to providing clean, reliable and efficient energy solutions.
The company will continue to operate under the RenEnergy brand and the senior leadership teams in the UK and South Africa look forward to further developing the business following the acquisition.
Damian Baker, managing director at RenEnergy UK, said: “Aggreko really is the perfect partner for us as our capabilities and growth aspirations complement and strengthen one another. I'm confident that our business will continue to thrive under Aggreko's stewardship."
Mills & Reeve corporate partner James Hunter, who led the team advising RenEnergy, said: “The excellent synergies between the two companies will create a major force in the global renewables sector, and the acquisition provides RenEnergy with the perfect platform to achieve its international growth ambitions.”
Jon Dodge, lead partner at FRP Corporate Finance said: “FRP Corporate Finance are delighted to have been able to originate this deal and to advise the shareholders on the transaction. We congratulate the shareholders on having built a great business on two continents and fully expect to see it go from strength to strength in the next stage of its continuing development.”
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