At what enterprise value was Encavis acquired in 2024?

During the acquisition of Encavis by KKR in 2024, the company was valued at an estimated revenue multiple of 10x - 18x. The transaction's Enterprise Value is estimated to be in the range of 3b - 100b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA.

What was the EV/EBITDA of Encavis when it was acquired by KKR?

The estimated EV/EBITDA multiple for Encavis is in the range of 10x - 18x. Join our community for free to access full valuation data and industry trends.

When was Encavis acquired by KKR?

Encavis was acquired by KKR in 2024.

What was the revenue of Encavis at the time of the deal?

The revenue of Encavis at the time of the deal is estimated to be in the range of 250M - 500M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of Encavis during the acquisition?

Encavis's EBITDA is estimated to be in the range of 250M - 500M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the Encavis acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the Encavis deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.encavis.com/en/newsroom/press-releases/2778597-encavis-ag-successful-voluntary-public-takeover-offer-by-kkr-54-3-per-cent-minimum-acceptance-threshold-exceeded

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06/2024

Encavis acquired by KKR

GERMANY Power Generation / Renewables / Solar / PV EV 3b - 100b EUR

Context

KKR disclosed the launch of a voluntary public takeover bid for Encavis AG, a leading independent operator of renewable‑energy assets in Europe. The proposal, structured as a cash‑only offer, rapidly achieved the statutory minimum acceptance threshold, prompting the formal conclusion of the transaction. The bid followed an earlier investment agreement signed in early 2024, under which KKR and a strategic co‑investor, Viessmann, committed to jointly accelerate Encavis’ growth trajectory and to provide a disciplined capital framework for future acquisitions. From KKR’s perspective, the acquisition aligns with its broader thematic mandate to deepen exposure to sustainable infrastructure and to consolidate fragmented renewable‑generation markets. Encavis contributes an extensive portfolio of on‑shore wind, solar and battery storage facilities, complemented by a seasoned management team and a proven development pipeline. The transaction is predicated on a logic of integration that leverages KKR’s global financing capabilities, operational expertise, and ESG‑focused investment discipline, while the co‑investment structure with Viessmann reinforces sector‑specific knowledge and cross‑selling opportunities. Post‑closing, the combined entity is expected to pursue a disciplined growth agenda predicated on organic capacity expansion and selective bolt‑on acquisitions. Integrated capital markets access will enable accelerated financing of new projects, while standardized asset‑level reporting and centralized procurement are projected to generate cost synergies. Governance will be reconstituted to reflect KKR’s oversight model, ensuring alignment of incentives and rigorous performance monitoring, thereby positioning the platform for sustained market share gains across the European renewable‑energy landscape.

Encavis, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN.

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

Target

Encavis AG is a vertically integrated renewable energy producer that develops, finances, constructs, and operates utility‑scale solar and on‑shore wind power assets across Europe. The company’s value proposition centers on long‑term power purchase agreements and diversified revenue streams that mitigate market volatility. Its portfolio, established through a combination of greenfield development and strategic acquisitions, is concentrated in Germany, France, Italy, Spain and the United Kingdom, with ancillary exposure to Central and Eastern European markets. Encavis leverages in‑house engineering, project management, and asset‑level optimization to maximize capacity factors and operational efficiency. The firm’s client base comprises corporate off‑takers, utilities, and institutional investors seeking sustainable electricity supply under stable contractual frameworks. Governance is anchored in a board‑level sustainability committee that oversees compliance with EU renewable targets and ESG standards. The corporate headquarters are located in Frankfurt, Germany, while regional offices support local permitting, grid interconnection, and stakeholder engagement. Encavis maintains a strategic footprint that aligns with European decarbonisation pathways, contributing to national renewable capacity obligations and the broader energy transition.

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2022

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06/2021	CUBE INFRASTRUCTURE	RENEWABLE POWER INTERNATIONAL	SPAIN	Power Generation	RPI has been acquired by a consortium led by Cube Infrastructure Fund, together with Demeter Partners, the company’s management team, and two Spanish family offices. The transaction closed in June 2021, transferring ownership of all 17 mini‑hydro plants and associated concessions from Renewable Power International Holdings to the new shareholders

REFERENCES

Valuation range: EV 3b - 100b EUR

Revenue range: 250M - 500M EUR

EBITDA range: 250M - 500M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Encavis by KKR are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: encavis

Acquirer: kkr