The transaction sees Tiger Infrastructure Partners, a middle market private equity firm that invests in infrastructure platforms, acquire a portfolio of gas peaking assets ranging from operational plants supported by Capacity Market contracts, to development green sites located across Scotland and the North of England. Tiger Infrastructure Partners has also acquired Forsa Energy's team which will continue to manage the development, construction and operation of the portfolio.
The disposal marks the final sale for Riverstone, Forsa Energy's shareholder, of its European energy business which Forsa Energy (f.k.a. Velocita Energy Developments) has set up, built out and managed for Riverstone across Europe. It follows the company’s earlier divestments of a series of projects and businesses across the UK and France.
The transaction was led by Edinburgh–based partner Danny Lee and senior associate Niall Mackle, with support from Stuart McMillan and Katie Russell in Edinburgh and Will Woodall and Ian Carnochan from the firm’s Bristol office.
Danny says: “Despite challenging market conditions, we are delighted to have worked with Alan Baker, Alanna Flett and the wider Forsa Energy team to successfully conclude the sale of Forsa Energy’s gas business, which marks the final disposal from Riverstone’s European energy portfolio built out by the Forsa team.”
Alanna Flett, Corporate Legal Counsel at Forsa Energy, comments: “I speak for myself, our CEO Alan Baker and the wider Forsa team in saying that we have all been very impressed with how the Burges Salmon team has navigated us through this transaction. It is great to have lawyers on board that are technically excellent, commercially focused and a genuine pleasure to work with.
“I’m delighted that we have had the opportunity to work with Danny and Niall again, as well as the wider Burges Salmon team.”