Alternative asset fund manager Bridgepoint on Wednesday said it would buy Energy Capital Partners for an upfront consideration of 835 million pounds ($1.05 billion) including debt to strengthen its foothold in mid-market private assets investing.
Energy Capital Partners invests across energy transition, and electrification and de-carbonization infrastructure that includes power generation, renewables and storage solutions.
The deal consideration includes 233 million pounds cash, shares and awards in the combined company worth 423 million pounds, and Energy Capital's existing debt of 179 million pounds, Bridgepoint said.
The deal is expected to be accretive to Bridgepoint's profit from the day of closing, it added.
The consideration also includes a potential for further awards of over 30 million shares to Energy Capital's hires or promotions, and about 55 million shares in 2027 subject to the firm's performance.
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