IFM Investors has announced two separate acquisitions, involving the purchase of the remaining 50% stake in Nala Renewables and the takeover of equipment rental firm Briggs Equipment UK.
The pension fund-owned global investor is taking full control of Nala by acquiring Trafigura Renewables’ interest in the global renewables platform the two firms co-founded in late 2020. Financial details were undisclosed.
Headquartered in London, Nala has a 2GW portfolio comprising solar, onshore wind and battery energy storage across Europe. The company aims to build a global portfolio with a cumulative generative capacity of 10GW by 2030.
Neil Doherty, executive director at IFM Investors, said: “I would like to thank Trafigura for their valuable partnership and contribution to the growth of Nala over the past six years. Critical to this success has been the dedication of the entire Nala team. We are excited to support Nala’s next phase of growth and to accelerate the energy transition by building a best-in-class renewable platform.”
Jiri Zrust, global head of operating assets at Trafigura, said: “Over the past six years, Trafigura is proud to have played a part in developing Nala into a leading renewable energy platform. We are pleased that IFM will take Nala through its next phase of growth.”
Briggs acquisition deepens IFM’s footprint in essential UK services
IFM Investors has agreed to acquire Briggs from Sammons Enterprises for an undisclosed sum, strengthening its UK infrastructure presence alongside existing stakes in Manchester Airports Group, the M6 Toll, Anglian Water and Nala.
Briggs is a provider of materials handling and specialty rental equipment in the UK and Ireland, focusing on the leasing, maintenance, repair and fleet management of assets such as forklifts, loaders and tow tugs across a nationwide network of more than 40 depots and a managed fleet of approximately 53,000 units.
Deepa Bharadwaj, head of infrastructure Europe at IFM Investors, said: “We are pleased to partner with Briggs as it enters the next stage of its development.
“As a well-established business operating within the infrastructure value chain, we believe Briggs is well positioned for success, and we see opportunity to support management’s growth strategy and aim to drive long-term value creation.”
Pete Jones, managing director at Briggs, said: “The team at IFM share our values, vision and commitment to providing mission-critical equipment to our valued customers.
“Their investment builds on all that has been achieved to date, and we look forward to working together to cement our position as a leader in materials handling and specialty rental in the UK and Ireland.”
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