Infrastructure investor Pioneer Point Partners has committed £100m (€115.5m) to acquire a majority stake in Rendesco, a UK-based low-carbon heat network platform.
Rendesco’s founder and CEO Alastair Murray will continue to lead the business and remain a shareholder following the completion of the deal.
Founded in 2012, the ground-source heat pump specialist Rendesco will use Pioneer Point’s commitment to facilitate up to £500m of capital expenditure across its UK low-carbon heat network infrastructure. The company partners with housebuilders to provide low-carbon heating for developments of homes, and has completed installations at more than 175 sites.
Pioneer Point said the deal is the fifth investment from Pioneer Infrastructure Partners II, a fund that exceeded its €800m target to close at €1.1bn in April last year.
The fund’s most recent acquisition took place in March this year, when it purchased WCG Wärme Contracting, a German heat contracting business, from the German utility EWE.
| Date | Target Company | Sellers | Deal Value | Geography | Sector | Description |
|---|---|---|---|---|---|---|
| Sept 2025 | Arpex | N/A | Undisclosed | Italy | Solar power | Acquisition of a significant majority stake in an on-site solar platform. Investment to finance construction of 50 ready-to-build projects. |
| May 2026 | Rendesco | N/A (founder Alastair Murray remains) | £100m commitment | UK | Low-carbon heat networks | Investment to facilitate up to £500m of capex in heat network infrastructure, specifically ground source heat pump solutions. |
| March 2025 | WCG Wärme-Contracting | EWE | Undisclosed | Germany | Heat contracting | Acquisition of a German heat-contracting business from a German utility. |
| March 2025 | OG Clean Fuels | ABN Amro Sustainable Impact Fund; Meewind | Undisclosed | Germany, Netherlands, Sweden, Italy | Clean fuels | Acquisition of filling station owner with 325 locations across Europe. |
| Feb 2025 | Yeager Energy | N/A (existing shareholders) | €100m | Netherlands | Geothermal energy | First deal for Fund II. Funds used to acquire Aardwarmte Vogelaer and a second geothermal company. |
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