Business

EQT Positions Itself to Acquire Ocea Group and Strengthen Its Footprint in Environmental and Energy Sectors

STOCKHOLM, April 4, 2024 - EQT, a global investment organization, has announced pioneering steps towards negotiating the acquisition of Ocea Group - a key player in the French market for smart water and heat metering. Utilizing its Active Core Infrastructure fund, EQT is cementing its strategy in investing in essential infrastructure that bolsters society's functionality. This transition marks a period of significant growth for Ocea, which has been operating under the expert guidance of ICG Infrastructure Equity I (ICG Infra).

Ocea's Role in Eco-Friendly Consumption

Ocea stands at the forefront of innovation in metering infrastructure, offering services that span across the installation and maintenance of over four million submeters. These long-term inflation-linked contracts not only ensure stable financial operations but also promote a culture of responsible energy consumption across its vast clientele. France has recognized Ocea's critical role as it steers towards a regulatory environment that favors greener living, apparent from the noticeable decrease in consumption wherever submeters have been installed.

A Future of Sustainable Growth

The acquisition by EQT symbolizes a future of continued expansion and aligned interests as both entities harbor a strong commitment to environmental stewardship. With EQT at the helm, we can anticipate an era of enhanced strategic investments, especially within digital customer services and sustainable solutions. Such advancements will likely solidify Ocea's market predominance not only in France but also in potential international markets.

Pioneering a Green Frontier

Throughout its meteoric rise within the energy and environment sectors, EQT has remained steadfast in its commitment to investments with social and economic impacts. The proposed assimilation of Ocea falls perfectly within this ethos, promising to carry forward EQT’s legacy of integrating progressive themes such as circularity and resource efficiency into their expansive portfolio of investments.

A Strategic Alliance for a Sustainable Tomorrow

The alliance of Ocea, under the visionary leadership of CEO Emmanuel Croc, and EQT sets the stage for an unprecedented acceleration in the domain of energy-efficient solutions. As volatility in energy costs spirals, the partnership is anticipated to quench the growing demand for sophisticated submetering solutions. This merger will provide EQt with an opportunity to deeply embed itself within the energy sector, leveraging Ocea's robust customer relationships and extending its influence to encompass geothermal and other attractive adjacencies.

Fabian Gröne, a Partner within the EQT Active Core Infrastructure Advisory Team, shares that the potential investment is coherently aligned with EQT's strategic intent. Focusing on vital services that wield a constructive influence on societal structures while also harboring thematic market growth underpinning them. Gröne emphasized the uniqueness of EQT's approach which lies in merging secure investment prospects spurred by market growth with the possibilities of creating substantial value through proactive ownership principles.

In a similar vein, Thomas Rajzbaum, who heads the French Infrastructure Advisory Team at EQT, shed light on the longstanding admiration they have had for Ocea. The entity's robust growth trajectory left a deep impression on EQT, stirring excitement within the team at the prospect of enhancing Ocea’s market stature.

Emmanuel Croc expressed his gratitude towards ICG for their invaluable expertise and support as Ocea advanced its mission over the past four years. Anticipating EQT as a potent and long-term ally, Croc highlighted the ascendant demand for submetering solutions which is anchored not just in fluctuating energy costs but also in heightened consumer awareness and a favorable regulatory landscape.

Adding to these sentiments, Guillaume d'Engremont, Head of Infrastructure at ICG, reminisced on their journey with Ocea. The partnership allowed Ocea to fortify its leadership in energy efficiency and expand into complementary business avenues that synergized with its core competencies. Reflecting on the union with Ocea's management team, d'Engremont expressed pride in amplifying Ocea’s mission focused on efficiency and sustainability.

Transaction Details and Advisor Involvement

The impending transaction awaits the fulfillment of standard regulatory conditions, including consultations with Ocea's works council. Prospects indicate a possible closure during the second to third quarter of 2024. Detailed advisory for this transaction is pooled from an array of experts: Rothschild & Co (financial), Linklaters LLP (legal), Boston Consulting Group (commercial and ESG), and KPMG (finance and tax) representing EQT, while Ocea has Ayache (legal), Bird & Bird (legal), and Eight Advisory (finance) in its corner.

Regulatory Notices

A statement that underlined the regulatory framework clarified that the information provided did not constitute as an offer to sell or a solicitation to buy any security. Parameters around EQT Active Core Infrastructure would strictly adhere to a confidential private placement memorandum, catering to qualified investors in accordance with applicable laws and regulations. The notice also stipulated restrictions around circulation of such information in the United States and the adherence to the U.S. Securities Act of 1933.

Press Inquiries and Resource Availability

Inquiries for both EQT and ICG can be channeled through their respective press offices, with contact details available for those interested in forging press communications. This announcement, supplemented by insights into the company and for download purposes, links to collaborative press releases and high-resolution images, can be found through provided channels.

Enhancing Public Access and Engagement

To improve public engagement and the dissipation of official announcements, EQT has made available a comprehensive press release as well as an Ocea picture that can be accessed through designated URLs.

EQT Press Office Contact: E-mail: [email protected]

ICG Press Office Contact: E-mail: [email protected]

Comprehensive News Release URL: https://news.cision.com/eqt/r/eqt-enters-exclusive-talks-with-icg-infra-to-acquire-ocea-group--a-leading-french-water-and-heat-sub,c3956362

Downloadable Files for Public Access: Ocea-EQT-ICG Joint Press Release PDF

High-Resolution Ocea Picture Download: Ocea Picture URL

Conclusion

The EQT's impending acquisition of Ocea Group signifies a leap towards sustainable growth on a global scale. It underscores the vital role of smart metering solutions in steering the world towards more ecologically sustainable practices. With the combined experience and commitment of EQT and Ocea's leadership, the smart water, and heat submetering industry is expected to witness transformative growth. By implementing cutting-edge technology and fostering conscientious consumption habits, these pioneering companies are setting a high bar for the industry, showcasing the tangibility of energy efficiency goals in everyday applications. Now, with regulatory approvals on the horizon, the collaboration is poised to redefine the future of energy solutions, reinforcing the importance of proactive investment in the infrastructure that underpins modern society.

(Note: This news article utilizes the information provided and does not contain personal opinions or observations. All facts and statements are pulled from the source material, ensuring accuracy and relevance to the reader.)