Institutional infrastructure investors to acquire Adven

Adven is a leading provider of clean energy solutions, providing outsourced infrastructure with a comprehensive, competitive and sustainable offering. Adven’s business is comprised of two segments, Industrial Energy Solutions, and Real Estate Heating & Cooling, which deliver clean energy solutions to its customers across five Nordic and Baltic countries. The company, which develops its energy infrastructure through a finance, build, own and operate model, currently delivers energy to well over 300 sites corresponding to an installed capacity of approximately 2GW.

“If otherwise the Nordic winter can be scary for those coming from further afield, then the local climate creates good preconditions for the heat production and district heating business. Buyers’ interest in infrastructure companies in our region is constant. Advising on an M&A transaction in the field of infrastructure requires the involvement and smooth cooperation of many experts. In addition to a good opportunity to participate in the project, we are pleased to see how continued investments in the heat sector will increase efficiency and promote environmental and climate goals,” said Martin Triipan, Ellex partner in Estonia who advised the client.

The Ellex team in Estonia who advised the transaction was led by Partner Risto Vahimets and Senior Associate Alla Kuznetsova. The team included Partners Martin Triipan and Martin Mäesalu, Senior Associates Hanna Pahk and Kaisa Laidvee, and Associate Merlin Liis.

White & Case acted as the lead counsel on this deal.