ZZ Capital International Limited ( ZZCI'), a global investment firm, announced that it has signed an agreement to invest in Building Energy 1 Holdings plc ( Building Energy'). Building Energy is a global, vertically integrated, multi-technology (wind, solar, hydro and biomass) independent power producer ('IPP'). The investment will be made by way of purchase of convertible bond and equity interests.
The deal was sourced and led by ZZCI, which will be investing alongside Zhongzhi Capital ( ZZC') and which was introduced by ZZCI as co-investor[1]. ZZCI is listed on the GEM Board of the Hong Kong Stock Exchange. The total amount of ZZCI's and ZZC's investment in Building Energy will be approximately 70 million. In addition to ZZC, ZZCI will also be investing alongside Synergo and Three Hills Capital Partners, which already hold stakes of 30% and 7%, respectively in Building Energy.
As part of the transaction, Building Energy will be redomiciled from Italy to the UK to benefit from the depth of London's capital markets, the breadth of expertise in renewable energy in the UK and the supportive environment for high growth companies.
With operations already in more than 20 countries globally, Building Energy's management team will work closely with ZZCI to expand the company's footprint into China and other Asian markets.
ZZCI's investment in Building Energy aligns closely with China's 13th Five-Year Plan regarding initiatives in renewable energy, advanced technology and strategic transformation.
Sergio D'Angelo, the European Head of ZZ Capital International commented, "Building Energy fits well within our investment strategy, which is focused on investing in entrepreneur and management-led companies operating in five key sectors and helping them to develop their business in China. Building Energy has a proven track record in the renewable energy sector, which is experiencing growing demand on a global scale. We look forward to working with Mr Zago and his management team to significantly expand the company's operations and help build the business in China."
"With the backing and expertise of ZZCI, Building Energy now has the ability to take advantage of growth in the Asian renewable energy market," said Fabrizio Zago, CEO of Building Energy. "We believe that the sector will continue to grow and that with the support of our partners at ZZCI we will expand significantly into China and other Asian markets."
ZZ Capital International Limited ( ZZCI')
ZZCI is a global alternative investment firm headquartered in Hong Kong, with offices in Hong Kong, London, New York, and Tel Aviv. ZZCI focuses on helping owners and management of companies worldwide to grow and expand their businesses in China as well as globally. The firm focuses on five high growth sectors: Environmental, Healthcare, Industrial, Financial Services and Education/ Media & Technology.
ZZCI was established in 2016 following the acquisition of Asia Capital Holdings Limited by ZZ Capital. Asia Capital Holdings Limited, which changed its name to ZZ Capital International Limited, was established and listed on the Hong Kong Stock Exchange in 2010. ZZCI is Zhongzhi Capital's flagship international alternative investment platform and is listed on the GEM Board of the Hong Kong Stock Exchange (stock code 08925).
ZZCI's strategy is to leverage Zhongzhi Capital's extensive local market knowledge and networks in China, in order to create a platform for Chinese firms to expand internationally, and equally, to provide overseas firms with the opportunity to access the rapidly growing Chinese market.
For further information, visit www.zzcapitalinternational.com
About Zhongzhi Capital
Founded in 2011, Zhongzhi Capital is a multi-asset class asset management company headquartered in Beijing. ZZC, through its subsidiaries, is the majority shareholder of ZZCI. The firm works with company management teams to help them consolidate their sector through acquisitions and to transform their business through expansion into new sectors.
Since 2011, ZZC has invested approximately $2 billion in more than 20 public and privately-owned Chinese companies across the Environmental, Healthcare, Industrial, Financial Services and Education/ Media & Technology sectors. ZZC invests from diversified funding sources, which provide the company with greater flexibility in both transaction type and holding period than typical equity funds.
About Building Energy
Building Energy is a multinational company operating as a Globally Integrated IPP in the Renewable Energy Industry on four continents. The company is vertically integrated on the value chain, from the development of projects to the sale of energy. With a pipeline of over 2,600 MW in 20 countries and generation assets being built over the next two years for more than 700MW, the company is positioned to be one of the major players on the international scene in the renewable energy field.
For further information, visit www.buildingenergy.it
[1] The deal was sourced and led by ZZCI through its subsidiary Asian Capital (Corporate Finance) Limited ( ACCF'). ZZ Capital International (UK) Limited acted as the sub-advisor to ACCF. ZZ Capital International (UK) Limited is an appointed representative of Duff and Phelps Securities Limited which is authorised and regulated by the Financial Conduct Authority.
For ZZCI:
Newgate Communications
Alistair Kellie / Zoe Pocock (London)
D: +44 20 7680 6880
Alistair.Kellie@newgatecomms.com / Zoe.Pocock@newgatecomms.com
Richard Barton (Hong Kong)
D: +852 3758 2686
Richard.Barton@newgate.asia
For Building Energy:
Maria Grazia Tiballi
D: +39 02 49527730
m.tiballi@buildingenergy.it
Publicis Consultants Italia
Barbara Rivolta - Alessandra Spagnolo
D: +39 02 30353324 - +39 02 77336.473
barbara.rivolta@publicisconsultants.it
alessandra.spagnolo@publicisconsultants.it
