Sweden-headed bioenergy services provider Solör Bioenergy Group has recently announced that its existing shareholders, AB Polhem Infra and Nordic Infrastructure AG have increased their shareholding by acquiring all shares in the Group held by Highview Finance Holding Company DAC.
According to a statement, Polhem Infra, which is wholly owned by the Swedish State Pension Funds AP1, AP3, and AP4, and Nordic Infrastructure, the original Solör Bioenergy Group founders holding company, have acquired 21.05 percent of the shares in Solör Bioenergy Group from the existing shareholder Highview Finance Holding Company DAC.
After this acquisition, Polhem Infra and Nordic Infrastructure hold 40 percent and 60 percent respectively of the shares in Solör Bioenergy Group.
Solör Bioenergy Group is a leading wood-based district heating company with a focus on the highest ESG standards. We are executing our 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. Nordic Infrastructure is a long-term owner, and we see further growth potential in the Nordic market, leading to the increase of our shareholding, said Martinus Brandal, Chairman, and CEO of Solör Bioenergy.
The investment in Solör Bioenergy Group was the first for Polhem Infra after its foundation in 2019.
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 Karin Karlström, acting CEO of Polhem Infra.
The parties have agreed not to disclose the purchase price.
