ZZ Capital International Limited (‘ZZCI’), a global investment firm, announced that it has signed an agreement to invest in Building Energy 1 Holdings plc (‘Building Energy’). Building Energy is a global, vertically integrated, multi-technology (wind, solar, hydro and biomass) independent power producer (’IPP’). The investment will be made by way of purchase of convertible bond and equity interests.
The deal was sourced and led by ZZCI, which will be investing alongside Zhongzhi Capital (‘ZZC’) and which was introduced by ZZCI as co-investor. ZZCI is listed on the GEM Board of the Hong Kong Stock Exchange. The total amount of ZZCI’s and ZZC’s investment in Building Energy will be approximately €70 million. In addition to ZZC, ZZCI will also be investing alongside Synergo and Three Hills Capital Partners, which already hold stakes of 30% and 7%, respectively in Building Energy.
As part of the transaction, Building Energy will be redomiciled from Italy to the UK to benefit from the depth of London’s capital markets, the breadth of expertise in renewable energy in the UK and the supportive environment for high growth companies.
With operations already in more than 20 countries globally, Building Energy’s management team will work closely with ZZCI to expand the company’s footprint into China and other Asian markets.
ZZCI’s investment in Building Energy aligns closely with China’s 13th Five-Year Plan regarding initiatives in renewable energy, advanced technology and strategic transformation.
Sergio D’Angelo, the European Head of ZZ Capital International commented, “Building Energy fits well within our investment strategy, which is focused on investing in entrepreneur and management-led companies operating in five key sectors and helping them to develop their business in China. Building Energy has a proven track record in the renewable energy sector, which is experiencing growing demand on a global scale. We look forward to working with Mr Zago and his management team to significantly expand the company’s operations and help build the business in China.”
“With the backing and expertise of ZZCI, Building Energy now has the ability to take advantage of growth in the Asian renewable energy market,” said Fabrizio Zago, CEO of Building Energy. “We believe that the sector will continue to grow and that with the support of our partners at ZZCI we will expand significantly into China and other Asian markets.”
 The deal was sourced and led by ZZCI through its subsidiary Asian Capital (Corporate Finance) Limited (‘ACCF’). ZZ Capital International (UK) Limited acted as the sub-advisor to ACCF. ZZ Capital International (UK) Limited is an appointed representative of Duff and Phelps Securities Limited which is authorised and regulated by the Financial Conduct Authority.
ZZ Capital International Limited | http://www.zzcapitalinternational.com