APG and OMERS Infrastructure acquire Kenter
Transaction summary
AMSTERDAM, 3 July 2023 – ABP and OMERS Infrastructure have today announced the signing of an agreement for the acquisition of Kenter from Alliander Corporate Ventures. Kenter is an energy infrastructure solutions business providing medium-voltage infrastructure – including transformers and switchgear – and meters to over 25,000 commercial and industrial business customers in the Netherlands and Belgium. This investment is done by APG Asset Management on behalf of ABP, the largest pension fund in the Netherlands; OMERS Infrastructure is investing on behalf of OMERS, one of the largest pension plans in Canada.
ABP and OMERS investment in Kenter will be the consortium’s second joint investment in the Dutch B2B energy solutions sector, after reaching close on their investment in Groendus in November last year.
Press releases: APG, Alliander
Emendo Capital acted as financial adviser to APG and OMERS Infrastructure in collaboration with DC Advisory and Allen & Overy. The closing of the transaction is expected in Q4 2023, subject to customary regulatory approvals.
About Kenter
Kenter is an energy infrastructure solutions business providing medium-voltage infrastructure – including transformers and switchgear – and meters to over 25,000 commercial and industrial business customers in the Netherlands and Belgium. In recent years, Kenter has grown from a traditional metering company to a total solutions provider in the field of energy infrastructure with a staff of over 400. The market in which Kenter operates is growing strongly, it is expected that in the future Kenter will play an even greater role in the energy transition.
For additional information on Kenter, visit www.kenter.nu
About OMERS Infrastructure
OMERS Infrastructure manages infrastructure investments globally on behalf of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, and third-party investors through its Strategic Partnership Program. OMERS Infrastructure manages approximately C$34 billion, including capital invested on behalf of OMERS and third parties, in over 30 investments located in North America, Europe and Asia-Pacific and across sectors including energy, digital services, transportation and government-regulated services. OMERS Infrastructure has employees in Toronto, New York, the U.K., Continental Europe, Asia and Australia.
For additional information on OMERS Infrastructure, visit www.omersinfrastructure.com
About ABP
Stichting Pensioenfonds ABP (ABP) is the sectoral pension fund for employers and employees of public, semi-public, and educational institutions in the Netherlands. ABP has 3 million members and 469 billion euros in available assets (at 31 May 2023).
For additional information on ABP, visit www.abp.nl
About APG
As the largest pension provider in the Netherlands APG looks after the pensions of 4.8 million participants. APG provides executive consultancy, asset management, pension administration, pension communication and employer services. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects. APG manages approximately € 530 billion (April 2023) in pension assets. With approximately 3,000 employees we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, Singapore, Shanghai and Beijing.
For additional information on APG, visit www.apg.nl