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11/2021

Solarpack Corporación Tecnológica acquired by EQT PARTNERS

SPAIN Power Generation / Renewables / Solar / PV EV 1b - 4b EUR

Context

EQT Infrastructure announced the successful completion of its voluntary tender offer for the outstanding equity of Solarpack Corporación Tecnológica, a leading developer and operator of utility‑scale photovoltaic assets in Spain and select international markets. The offer concluded the protracted acquisition process that commenced earlier in the year, following a non‑binding indication of interest and subsequent due‑diligence phase coordinated by leading legal counsel. Solarpack, founded in the early 2000s, has built a portfolio of solar farms with a reputation for robust project execution and long‑term power purchase agreements, positioning it as a strategic target for infrastructure investors seeking exposure to the European renewable transition. EQT’s investment thesis centered on the convergence of two complementary growth vectors: the firm’s deep expertise in capital‑intensive, regulated infrastructure assets and Solarpack’s established pipeline of operational solar projects with predictable cash flows. From the buyer’s perspective, the acquisition represented a platform‑building operation of external growth, enabling EQT to broaden its renewable energy footprint, achieve scale economies, and diversify its asset mix across generation technologies and geographies. The transaction also aligns with EQT’s broader commitment to ESG‑aligned capital deployment, reinforcing its positioning as a principal conduit for institutional capital into decarbonisation‑driven infrastructure. The anticipated operational impact includes the integration of Solarpack’s asset management capabilities into EQT’s existing infrastructure platform, thereby enhancing portfolio optimisation, centralising procurement, and standardising performance monitoring across the combined entity. Synergies are expected to arise from shared services, joint financing structures, and the ability to leverage EQT’s extensive investor network to refinance and expand the solar portfolio under more favourable terms. In the medium term, the combined operation is projected to accelerate capacity additions, improve capacity‑factor benchmarks, and deliver incremental value to equity holders through disciplined capital allocation and risk‑adjusted returns.

Solarpack Corporación Tecnológica, which reported an EBITDA margin of LOGIN in 2021, 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

Solarpack Corporación Tecnológica is a vertically integrated developer and operator of utility‑scale photovoltaic assets, headquartered in Barcelona, Spain. Established in the mid‑2000s, the firm leverages a full‑cycle value proposition encompassing site identification, permitting, financing, engineering, procurement, construction (EPC), and long‑term operation and maintenance (O&M). Its portfolio comprises megawatt‑scale solar power plants across Europe (Spain, Portugal, Italy), the United States, and Latin America (Chile, Brazil, Mexico), reflecting a strategic footprint that aligns with diverse regulatory regimes and grid‑integration standards. Solarpack’s client base includes multinational utilities, corporate off‑takers, and institutional investors seeking renewable energy procurement under power purchase agreements (PPAs) or feed‑in tariffs. The company’s technical expertise is anchored in advanced PV module selection, high‑efficiency inverter integration, and digital asset‑management platforms that optimize performance monitoring and predictive maintenance. By maintaining in‑house engineering capabilities and strategic partnerships with EPC contractors, Solarpack delivers cost‑effective project execution while adhering to stringent environmental, health, and safety protocols. The firm also provides advisory services on renewable‑energy market entry, regulatory compliance, and asset‑level optimization, thereby reinforcing its role as a comprehensive solutions provider within the solar power generation ecosystem.

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Historical Financials (EUR)

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REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 100M - 200M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Solarpack Corporación Tecnológica by EQT PARTNERS 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: solarpack corporación tecnológica

Acquirer: eqt partners