Deal Announcement: CBRE portfolio company Geonova Oy buys One1 Energy as a Service assets
Type of deal: Asset purchase
Sector: Energy & Utilities
PwC Finland’s Corporate Finance team is pleased to announce the successful completion of a purchase of One1 heating asses by CBRE Investment Management portfolio company Geonova Oy. PwC Finland acted as the exclusive M&A and financial advisor to CBRE. This strategic acquisition aligns with Geonova's growth strategy and marks a significant step forward in its rollout of Energy as a Service (EaaS) projects in the Finnish market. The transaction will be funded by a capital injection from CBRE Investment Management, Geonova's new shareholder.
One1 Oy, owned by the energy companies of Lahti and Pori, is a growing company in the energy services market. The assets sold include ground source heat pumps, biofuel boilers, and rooftop solar installations, contracted under an EaaS model with long-term agreements ranging from 10 to 20 years.
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: One1 Oy
Buyer: CBRE Investment Management through Geonova Oy
Date: Deal announcement 25th October 2024
PwC’s role: Buyer’s M&A and financial advisor
Kimmo Vilske
Matti Oksanen
