Igneo Infrastructure Partners Strengthens Portfolio with Höegh Evi

Igneo Infrastructure Partners Acquires Höegh Evi Ltd.

Höegh Evi Ltd., a global leader in floating energy infrastructure, has recently announced an exciting development regarding its ownership structure. Funds managed by Igneo Infrastructure Partners have entered into agreements to acquire a remarkable 50% ownership stake in Larus Holding Limited, which wholly owns Höegh Evi. Following this transaction, Aequitas Limited will maintain its position with a 50% shareholding, continuing its long-term commitment to the company.

Strategic Partnership for Innovation and Growth

The partnership with Igneo marks a significant step towards enhancing clean energy solutions. Morten W. Høegh, Chairman of Höegh Evi, expressed the company’s gratitude for the collaboration with Morgan Stanley Infrastructure Partners throughout a transformative phase for Höegh Evi. This period allowed them to solidify their standing as market leaders in LNG infrastructure while also paving the path for the transition to clean energy.

Supporting Energy Transition and Security

Igneo has a proven track record in infrastructure investments, and as Niall Mills, Managing Partner and Global Head of Igneo, stated, this acquisition aligns perfectly with Höegh Evi's mission to expand its role as a trusted provider of FSRUs, LNG infrastructure, and other forms of energy solutions. The agreement comes at a crucial time when energy security is a focal point not just in Europe but globally.

Höegh Evi has positioned itself as a pioneer, not only in LNG but also as a potential leader in the energy transition, focusing on infrastructure for ammonia, hydrogen, and other crucial energy carriers. This aligns with the growing demand from countries striving for energy independence and environmental responsibility.

A Testament to Successful Growth Potential

During their time with Höegh Evi, MSIP recognized the company as a reliable operator in the field of floating storage and regasification import terminals. Their investment has facilitated substantial growth and strategic enhancement of Höegh Evi within the competitive landscape of energy infrastructure. Alberto Donzelli, Managing Director of MSIP, remarked on the impressive journey and the value created during their ownership period.

Financial Aspects of the Transaction

Höegh Evi is currently in the process of managing senior unsecured bonds listed on the Oslo stock exchange, and they plan to repay these bonds upon maturity prior to closing this significant transaction. The overall transaction is projected to culminate in the first half of the next year, subject to necessary regulatory approvals, ensuring all parties are aligned with the reviewed terms.

Advisory Teams Involved

In navigating this complex transaction, expert financial advisors include Morgan Stanley & Co. International plc and DNB Markets working on behalf of Höegh Evi. Meanwhile, legal support comes from various prominent law firms who ensure that everything is conducted in compliance with legal and investment standards.

About Höegh Evi and Igneo Infrastructure Partners

With a history spanning 50 years, Höegh Evi has been instrumental in developing floating energy infrastructure that meets the urgent needs of today’s energy landscape. The company operates one of the largest fleets of floating storage and regasification units worldwide. Its shift towards infrastructure for ammonia and hydrogen anticipates future energy trends, making it a pivotal player in the global energy transition.

Igneo Infrastructure Partners is dedicated to investing in high-quality infrastructure. They are passionate about fostering long-term sustainable value through a responsible investment approach, thereby ensuring that technology and innovation are at the forefront of their investment strategy. With assets under management totaling $20 billion, they stand tall in the investment community, emphasizing the importance of collaboration with portfolio companies for mutual growth.

Looking Ahead

As Höegh Evi collaborates with Igneo Infrastructure Partners, the emphasis on innovation in energy solutions remains a key priority. The synergy from this partnership is expected to elevate Höegh Evi's capabilities in delivering integrated floating energy infrastructure solutions for a changing energy landscape.

Frequently Asked Questions

What is the significance of the acquisition by Igneo Infrastructure Partners?

The acquisition enhances Höegh Evi's capabilities and focuses on innovation in clean energy solutions, aligning with global demands for energy security.

How does Höegh Evi contribute to energy infrastructure?

Höegh Evi is a pioneer in floating energy infrastructure, providing FSRUs and expanding into ammonia and hydrogen solutions for enhanced energy transition.

When is the expected closing of the transaction?

The transaction is expected to close in the first half of next year, pending regulatory approvals.

Who are the key players in the advisory teams for the transaction?

Advisors include Morgan Stanley & Co. International plc and DNB Markets managing financial aspects, along with several distinguished law firms for legal guidance.

What is the future outlook for collaboration between Igneo and Höegh Evi?

The partnership aims to drive innovation and sustainable growth within the energy sector, positioning Höegh Evi to meet evolving energy demands effectively.

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