Redgate Capital acted as a buy-side advisor to Gren, an international company operating in the Baltics with focus on district heating and energy, with regards to acquisition of SIA Bioeninvest.
Gren has signed an agreement to acquire green energy company SIA Bioeninvest operating in the town of Gulbene, Latvia. The transaction is a part of Gren’s growth strategy execution in the Baltic region. The transaction is subject to the approval of the Competition Council of Latvia and is expected to be completed in the fall of 2022.
SIA Bioeninvest is a district heating system operator in the town of Gulbene in Latvia, providing heating to residential and commercial customers. The company owns a biomass heat and power production plant, several biomass heat only production assets and operates Gulbene’s district heating network.