Deal Announcement: CBRE Investment Management invests in Geonova Oy
Type of deal: Majority purchase
Sector: Energy & Utilities
PwC Finland’s Corporate Finance team is pleased to announce the successful completion of a majority purchase of Geonova Oy shares by CBRE Investment Management. PwC Finland acted as the exclusive M&A, financial, tax, commercial and operational advisor to CBRE Investment Management. CBRE IM will help drive rapid growth of Geonova’s ground-source heating platform in the coming years.
Geonova is a company focused on geothermal and heat pump solutions, offering carbon-neutral heating, cooling, and energy solutions on a lifecycle service model for Finnish industry and housing companies. Geonova is owned by the international private equity firm CBRE and Finland's leading heat pump market expert, LämpöYkkönen Oy.
CBRE Investment Management is a leading global real assets investment management firm with $142.5 billion in assets under management as of June 30, 2024, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
Seller: Helen Oy
Buyer: CBRE Investment Management
Date: Deal announcement 18th October 2024
PwC’s role: Buyer’s M&A, financial, tax, commercial and operational advisor
