AXA IM Alts has acquired a 60% interest in ILOS New Energy, a pan-European renewable-energy independent power producer (IPP), from the company’s founders and Omnes Capital.
AXA IM Alts is investing an unspecified amount for its stake in a deal expected to help ILOS grow its platform with its founders and management, as Omnes Capital exits its investment.
ILOS, based in Karlsruhe, Germany, was founded in 2018. Omnes Capital, a European private equity investor focused on the energy transition, has backed ILOS through its Capenergie 4 fund since 2020.
ILOS has a pipeline of around 5GWp of solar photovoltaic projects across seven European countries.
Mark Gilligan, head of infrastructure at AXA IM Alts, said: “At AXA IM Alts, we invest our clients’ capital with an investment strategy of focusing on Europe, diversifying across sectors and across the risk spectrum, and scaling and transitioning infrastructure to reach zero carbon dioxide emissions before 2050.
“We invest through an evergreen format so we can inject capital to scale platforms over time. ILOS, as an established pan-European solar developer and IPP, will give us access to high-growth, low-cost, zero-carbon electricity generation. We look forward to working with the founders to grow its fleet as it transitions to an increasingly sophisticated independent power producer.”
Nikolaus Krane and Michael Winter, founders of ILOS, said: “We are delighted to have found a partner in AXA IM Alts that shares our vision for the growth of the ILOS platform. Throughout this process they have impressed us with their long-term, hands-on and holistic investment strategy.
“With their strong support, we will continue to expand our installed capacity and portfolio across Europe. The investment not only validates ILOS’s proven track record in renewable energy but also reflects AXA IM Alts’ confidence in our team. It positions us to successfully execute our strategy of becoming a leading pan-European renewable energy IPP – actively contributing to the EU’s energy independence and sustainability goals.”
Yannic Trüb, partner at Omnes Capital, said: “Since we came on board, we have worked hand in hand with the ILOS team to transform the company from a developer into a fully-fledged renewable-energy platform and IPP of meaningful scale.
“Having deployed our allocated investment amount and achieved our value-creation plan, we believe now is the right time to exit and are confident AXA IM Alts and the founders will be very successful going forward.”
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