Sweden-headed bioenergy services provider Solör Bioenergy Group has announced that its existing shareholders, AB Polhem Infra and Nordic Infrastructure AG have increased their shareholding by acquiring all shares held by YRC Worldwide Inc.
Wholly owned by the Swedish State Pension Funds AP1, AP3, and AP4, Polhem Infra was founded in 2019. Its investment in Solör Bioenergy Group back then in 2019 was the first for the company. The company has acquired 90 percent of the shares in Solör Bioenergy Group held by YRC Worldwide.
The Group has a proven track record as an industry consolidator with several successful transactions since Polhem Infra ́s initial investment. Therefore, Polhem Infra took this opportunity to acquire additional shares, as we view Solör as an important and long – term investment Polhem Infra will continue to focus on further enhancing the company’s position as a sustainable and responsible provider of district heating to its customers and society, said Mikael Lundin, CEO of Polhem Infra.
Nordic Infrastructure, a holding company belonging to the original founders of Solör Bioenergy Group, acquired the remaining 10 percent of YRC Worldwide’s stake in Sölor Bioenergy Group.
Solör Bioenergy Group is a leading energy company for wood-based district heating with a focus on the highest ESG standards. Moreover, we are executing a rapid growth strategy and will continue to be ambitious and action-oriented while we continue to serve as an active and responsible partner to our clients. Therefore, Nordic Infrastructure is taking this opportunity to increase it ́s shareholding in this growing company,said Martinus Brandal, Chairman and CEO of Solör Bioenergy Group.
Roschier acted as Swedish counsel to Nordic Infrastructure in the transaction. The value of the transactions has not been disclosed.