Adven announces closing of its acquisition by institutional investors advised by J.P. Morgan Asset Management
Adven announced that its acquisition by institutional investors advised by J.P. Morgan Asset Management has now closed.
Jyrki Vainionpää, CEO of Adven Group, said:
“I am very happy that Adven has a leading infrastructure investor as our new owner and I look forward to delivering our ambitious agenda together. The open-end structure and long-term investment horizon match very well with our long-dated customer contracts and relationships. Our investors said that they are delighted to invest in Adven, a platform that significantly enhances scale and capability in the region alongside their ownership of Värmevärden. I want to thank AMP Capital and Infracapital Teams as well as all board members for great cooperation and valuable support in recent years.”
Mikael Kramer, Chairman of Adven and Värmevärden, said:
“I firmly believe in the combined potential of Adven and Värmevärden, as two independently strong businesses, coming together to create a leading provider of Industrial Energy Solutions and District Heating.”
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J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than 50 years as an alternatives investment manager, $145 billion in assets under management and more than 600 professionals (as of June 30, 2020), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds. Operating from offices throughout the Americas, Europe and Asia Pacific, our 15 independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives.
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 2 GW.
Värmevärden operates District Heating infrastructure in Sweden and provides environmentally sustainable district heating for residential and non-residential customers, as well as heat, steam and related energy solutions to local industries. Värmevärden operates in 12 municipalities in central Sweden and has around 100 employees. Värmevärden, as a standalone company, was formed in 2010, but has an extensive experience in district heating, going as far back as the mid-1960s. https://varmevarden.se/