TRANSACTION October 2018
Pioneer Point Acquires Brockwell Energy
Energy and environment infrastructure specialist Pioneer Point Partners has acquired UK energy platform Brockwell Energy Limited from Hargreaves Services plc. Pioneer acquired Brockwell in partnership with global investment firm Davidson Kempner.
Brockwell has several Energy-from-Waste (EFW) and onshore wind projects under development in Scotland with a potential capital requirement of £800 million.
As part of the transaction Pioneer and Davidson Kempner have committed equity funding for Brockwell’s Earls Gate CHP EFW project at Grangemouth and its EFW project at the Westfield site in Fife. Development funding has also been made available to fund the ongoing development of the remainder of its portfolio which includes the nationally significant 270MW North Kyle wind scheme.
Pöyry Capital acted as financial adviser to Pioneer Point Partners.