US infrastructure firm Alinda Capital Partners will acquire a majority interest in agri.capital following Ludgate and Frog’s departure, and plans to inject more than €300 million in growth capital in the next three years.
Ludgate describes the sale for €16.3 million (£14.1 million) as its first ‘significant exit’ since launching in August 2007. The fund committed a total of €11.3 million in three rounds in the company after an initial entry in October 2008, according to a statement from the firm.
The transaction is Frog Capital‘s third exit in the past year after Nordic Capital acquired industrial recycling company SiC Processing, and Amazon bought BuyVIP, a leading online retailer, last year. Frog Capital backed agri.capital last year in a €60m round of funding.
Headquartered in Luxembourg and founded in 2004, agri.capital controls more than 400 gigawatts of renewable power each year and more than 60 project sites. The company has identified expansion opportunities in Germany and Italy, in addition to longer-term plans in other parts of Europe.
Agri.capital chief executive Anton Daubner comments, ‘Biogas is unique among renewable energy sources in being reliable, storable, and transportable, with applications for electricity, heating, and transport. We believe biogas and biomethane will be critical to Europe’s reaching its renewable energy and greenhouse gas reduction targets for 2020 and beyond.’
