Henko Capital Partners has executed the transaction "with the purpose of creating an international high-value services group focused on the wind and photovoltaic sector". According to the Spanish private equity firm, Revergy provides "a full range of services and solutions for each of the phases of an asset's life cycle, ranging from basic engineering and subsequent project management (Owners' Engineering), to technical and financial management or operation and maintenance (O&M)". With this acquisition, Henko intends to consolidate its position in the context of the "exceptional moment that the wind and photovoltaic sector is experiencing globally". Revergy has "a consolidated presence in Chile, Mexico, Colombia and Brazil", and is executing projects in the United States and several European countries: Italy, Portugal, Romania and Poland.
Henko Capital Partners explains the objective
"The medium-term objective is to consolidate itself as one of the specialists of reference at a global level, with a focus on those services of greater complexity and added value, such as the supervision and management of assets, supported by digital tools that allow optimizing the performance of the assets and increasing the profitability for the owners of the parks".
The project - Henko reports - will continue to be led by Iñigo Vázquez, founder and CEO of Revergy. Vázquez (ex GE Energy and Availon) has been in the renewable energy sector for more than 25 years.
Iñigo Vázquez, founder of Revergy: "The Company is at a stage of maturity that is ideal to face the demands of a market in full expansion and we are confident that Henko is the right partner to accompany us in this consolidation phase. In this new stage we are starting, we are convinced that the excellent team of professionals we have and the strong positioning we have in the sector will be the fundamental levers to achieve the strategic objectives defined in the long term".
Lars Becker, Partner at Henko Partners: "The long-term dominance of renewable energy sources gives us a lot of confidence to invest in the sector. In addition, Revergy's specialized service profile together with its extensive experience in the markets it operates in gives it a unique positioning. Our objective is to help the management team channel all the strategic opportunities that arise in a market in full expansion cycle, both geographically and in services, as well as with the acquisition of new companies that will allow Revergy to accelerate the achievement of its objectives."
Bird & Bird and Russell Bedford advised Henko Partners on this transaction, while Beel Infrastructure Partners and PWC advised the sellers of Revergy.
Revergy, based in Seville and in business for over 20 years, was founded as an independent provider specializing in engineering, inspection, supervision and O&M services for wind farms and photovoltaic farms.
Henko Capital Partners presents itself as "an independent private equity fund focused on supporting Spanish and Portuguese SMEs in markets with long-term growth trends". Henko operates with a strategy that "involves working with entrepreneurs and management teams to develop high-potential businesses. In collaboration with the companies, the fund promotes strategic initiatives and practical operational improvements". The fund thus supports companies "to accelerate their growth and transform themselves into more resilient and sustainable businesses".