09 04 2016

I Squared Capital Signs an Agreement to Acquire Viridian Group Holdings Limited

Kirkland & Ellis International LLP represented I Squared Capital, an independent global infrastructure investment manager, and recipient of Private Equity International’s Infrastructure Investor Global Fund Manager of the Year award, which announced today its agreement to acquire Viridian Group Holdings Limited from Arcapita.


Viridian is the leading independent, integrated energy company operating across Northern Ireland and the Republic of Ireland. With over 480 employees, the Group comprises two main brands Energia and Power NI and has a c.20% share of domestic electricity sales volume and a c.27% share of business electricity sales volume on an all-Ireland basis. Viridian’s generation portfolio consists of 747 megawatts of gas-fired combined-cycle generating technology capacity and 225 megawatts of onshore wind assets in operation and construction. In addition, Viridian has 793 megawatts of operating wind-farms under long-term contracts which is expected to increase to c.1,000 megawatts in just over a year as other wind-farms, currently under construction and in-development, become operational. Credit Suisse acted as financial adviser to I Squared Capital. Evercore acted as financial adviser to the selling shareholders alongside Houlihan Lokey, and White & Case LLP was the company’s and selling shareholders legal adviser. The Kirkland team included corporate partners David Arnold (Picture) and Carl Bradshaw, associates Cillian Moynihan and trainee solicitors Eleanor Harley and Sarika Shah; capital markets partner William Burke and associates Gilles Teerlinck and Corentine Delobel; debt finance partner Samuel Norris and associates Susannah Amini, Daniel Lindsey and Alexander van der Gaag and trainee solicitor Zoe Woodhouse; and tax partner Jane Scobie and associate Jason Pegnall. Involved fees earner: David Arnold - Kirkland & Ellis; Carl Bradshaw - Kirkland & Ellis; Cillian Moynihan - Kirkland & Ellis; William Burke - Kirkland & Ellis; Gilles Teerlinck - Kirkland & Ellis; Corentine Delobel - Kirkland & Ellis; Samuel Norris - Kirkland & Ellis; Susannah Amini - Kirkland & Ellis; Daniel Lindsey - Kirkland & Ellis; Alexander van der Gaag - Kirkland & Ellis; Jane Scobie - Kirkland & Ellis; Jason Pegnall - Kirkland & Ellis;

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