- Press Releases
December 16 (Renewables Now) - Norwegian private equity fund FSN Capital will buy a 45% stake in Denmark-based renewables investor Obton Group, which has close to 1 GW of solar assets under management across Europe.
FSN Capital has signed an agreement for the purchase and will enter into a partnership with the target’s founders and management, it said on Tuesday. The value of the proposed transaction was kept under wraps.
“As one of the largest and most experienced developers, managers and investors in solar PV in Europe, the Obton Group is very well-positioned in this rapidly growing industry,” said Lars Denkov, Partner at FSN Capital Partners, FSN Capital’s investment advisor.
Founded in 2008, Obton is currently the ninth-largest solar asset manager in Europe. FSN Capital explained that its involvement is seen as a move supporting the Obton management’s strategy to grow the business through raising capital initiatives and delivering the company’s existing solar project pipeline.
The management team and founders of Obton Group will remain in leading positions at the company following the deal. Its closing is expected to take place in the first half of 2021 after the required regulatory approvals are received.