Irish headquartered renewable energy company, Mainstream Renewable Power, has signed an agreement with Norway-based renewable energy investment company, Aker Horizons, which will acquire a 75% equity stake in the company.
The Philip Lee M&A team led by John Given and Andreas McConnell was delighted to advise Mainstream on this transaction which, subject to regulatory approval, values Mainstream at €1bn including earn-out.
Mainstream said the investment would help accelerate its global expansion plans to bring 5.5 gigawatts of renewable projects to financial close by 2023 ahead of a planned IPO.
Under the terms of agreement, Mainstream will continue to operate under its existing brand, with founder Eddie O'Connor as Chairman and its current CEO and management team.
Press release available here.
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