ASI acquires Finnish energy business
Aberdeen Standard Investments has acquired a 66 per cent interest in Outokummun Energia Oy, a regional energy business based in North Karelia in Finland.
Outokummun Energia was formed in 2000 and at the end of 2019 it had approximately 5,280 electricity distribution and 4,260 energy customers.
The company produces, sells and distributes, electricity and heat while supporting reduction in pollution emissions. Additionally, it has an electricity distribution network with a total length of 1,000km and a district heating network, the heat predominantly sourced from environmentally friendly fuel sources.
The company and its management team will benefit from having an experienced partner with deep infrastructure knowledge and continued local support from the City of Outokumpu. The shareholder group shares a joint objective of sustainable growth of the business through supplying the customers with safe, reliable and cost effective electricity and heat solutions and continued development of the local community.
The acquisition will be funded through ASI’S SL Capital Infrastructure II fund and will be ASI’S fourth infrastructure transaction in Finland.
Dominic Helm sley, AS I’ s head of economic infrastructure, said: “The infrastructure team’s fourth investment in the Finnish infrastructure market follows our strategy to acquire and manage premium regulated infrastructure assets in Europe. We are delighted that the City of Outokumpu have selected us as their preferred partner in the continued delivery of electricity and heat services to Outokummun Energia’s clients.