M&As this week: Three60 Energy Group, Valmont Industries

10 August 2018 (Last Updated August 10th, 2018 10:21)

Three60 Energy Group has acquired Ridge AS, an engineering and consultancy services provider based in Norway.

Three60 Energy Group has acquired Ridge AS, an engineering and consultancy services provider based in Norway.

The acquisition is expected to help Three60 to strengthen its service offerings and provide operators with a complete suite of technical services required across the whole asset lifecycle.

Three60 Energy Group is backed by Simmons Private Equity, a private equity fund focused on the energy sector, while Ridge AS, based in Norway, provides engineering and consultancy services in the subsurface, drilling & wells, subsea and facilities disciplines.

Valmont Industries has acquired a majority stake in Convert Italia, an Italian designer and provider of engineered solar tracker solutions.

Valmont expects to provide integrated solar tracker solutions to its utility-scale customers, following the acquisition.

Based in the US, the acquirer company manufactures engineered products and services for infrastructure development, as well as irrigation equipment and services for agriculture.

Empresas Publicas de Medellin ESP (EPM) plans to divest its 10% stake in Interconexion Electrica.

“Valmont expects to provide integrated solar tracker solutions to its utility-scale customers.”

EPM also intends to raise $1.4bn by divesting its stake in Davivienda, Aguas de Antofagasta water company, and the Cururos windfarm.

Based in Colombia, the acquirer company is a public utility company, while the target company, also based in Colombia, is a power transmission company.

Gould Windpark Services has reached an agreement to take over Total Wind Benelux.

Based in the Netherlands, the acquirer company provides services related to offshore wind sector, while the target company, based in Denmark, provides turnkey solutions within transportation, installation, service, maintenance and supply of spare parts for wind turbines.

Ørsted has acquired Lincoln Clean Energy (LCE), an onshore windfarm developer based in the US, for $580m.

Announced in February, the acquisition is a part of Ørsted’s strategy to minimise the use of fossil fuels sources and utilise renewable energy sources.

Based in Denmark, the acquirer company is engaged in power generation.