British company ICG commits to Spanish renewable energy market by acquiring Dos Grados

Cuatrecasas advised JB Capital, Sidenor and Loreto Mutua on selling the Dos Grados renewable energy platform to the British private equity investment firm Intermediate Capital Group (ICG), which closed the acquisition through its new infrastructure fund. 

Regarding the advice provided, Cuatrecasas partner José Ramón Berecibar said that “in this purchase, the buyer’s interests were aligned due to the disinvestment having an optimal structure.” With this transaction, the three partners, JB Capital, Sidenor and Loreto Mutua, closed a cycle that started approximately four years ago with JB Capital’s launch of Dos Grados on the Spanish market.   

This is the buyer’s first investment transaction in Spain through its infrastructure strategy and its entry in the Spanish renewable energy sector. ICG has acquired practically all the platform’s share capital, reserving a small percentage of the shareholding for its management team.

  

The Cuatrecasas team in the Basque Country handling this transaction was made up of José Ramón Berecibar, Santiago Bayo and Ane Agirretxea (Corporate), and Elvira Azaola (Tax).