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The new Spanish private equity firm is launching a platform with the aim of creating an international engineering and technical services group focused on the energy transition and the digitalisation of the energy sector.
Madrid, 10 December 2021. - Henko Capital Partners, a Spanish private equity firm, acquires MMYPEM and Teiga-TMI, creating a new international engineering and technical services group focused on energy transition and digitalisation through a buy & build process.
The group's value proposition seeks to offer a comprehensive portfolio of services covering all technical specialties throughout the different phases of an asset's life cycle, specialising in renewable energy generation and transmission assets and energy transition, such as hydroelectric, solar thermal, wind and green hydrogen plants. In addition to its business in Spain and Portugal, the group already has a permanent presence in Israel, Chile, Peru and Panama, and is executing projects in several countries in Europe, South America and Africa.
The long-term objective is to enhance international expansion, to combine the strengths of the integrated companies to optimise project execution and to further strengthen its position in the respective services through new acquisitions. In addition, the group will seek to integrate new technologies into its service portfolio, thus responding to the growing need for digitalisation.
This process of sector consolidation is reinforced by the start of a strong expansionary investment cycle at international level, especially in renewable energies with the aim of replacing technologies with a higher carbon footprint. In addition, the sector is also undergoing a strong period of investment and replacement of the so-called transition technologies, which allow energy supply to be covered and guaranteed in climatic situations that are not favourable to renewables and with limited environmental impact.
The project will be led by Santiago Romero, Pedro Fernández and Oscar Varela, executives with more than 60 years of accumulated experience in the energy sector. In addition, the group will be supported by Ramón Oliver, an executive with extensive experience as a director of several companies in the sector, who will act as chairman of the group.
These are the first two investments of Henko Capital Partners I, which reached a final closing of €70 million at the end of this year. A fund that seeks stakes in SMEs with growth projects and transformational challenges in companies with a B2B model, both in services and in manufacturing and technology.
For Lars Becker, partner at Henko Partners, "MMYPEM and Teiga-TMI fit perfectly with our project to create a multidisciplinary platform in the area of industrial services for the energy sector due to their growth potential, unique positioning and strong management teams. Our objective is to help the teams to crystallise synergies both geographically and in terms of the complementarity of the services portfolio, as well as in the acquisition of new companies that will allow the group to cover more specialities".
Bird & Bird and Baker Tilly advised Henko Capital Partners on these transactions, while BDO and Garrigues advised the sellers of MMYPEM and Auren Corporate and Araoz & Rueda advised the sellers of Teiga-TMI.
About MMYPEM and Teiga-TMI:
MMYPEM, based in As Pontes (A Coruña), has more than 20 years of experience and was founded as an independent company specialising in commissioning services for power generation plants and has since executed more than 160 projects in 15 countries.
Teiga-TMI is a company based in Bergondo (A Coruña) with more than 30 years of experience in electrical and mechanical services mainly for the energy and industrial sector having executed more than 200 projects with a wide international experience.
About Henko Capital Partners:
Henko Capital Partners is an independent private equity firm focused on supporting Spanish and Portuguese SMEs in markets with long-term growth trends. The strategy is to work with entrepreneurs and management teams to develop high potential businesses. In partnership with companies, the firm drives strategic initiatives and practical operational improvements. As entrepreneurs for entrepreneurs, the firm supports companies to accelerate their growth and transform themselves into more resilient and sustainable businesses. Our team has extensive investment experience and a strong track record of execution with over 30 closed transactions in business services, manufacturing, technology, telecommunications and healthcare. Henko Partners is a responsible investor committed to strict environmental, social and governance principles.
