Viesgo Acquisition & Valuation

Viesgo was acquired by EDP Renovaveis for $610M in July 2020.

Viesgo acquisition price

$610M

Acquired by EDP Renovaveis · Jul 2020

Viesgo EBITDA multiple at acquisition

9.4x

EV/EBITDA · Jul 2020

Key investors in Viesgo

  • Macquarie Asset Management

Viesgo Overview

About Viesgo

Viesgo is an energy utility generating electricity from natural gas plants in Spain and distributing power and gas networks. Operations span Castile and León regions with substations connected to the national grid. The company supplies residential and industrial customers through smart metering. Madrid-headquartered Viesgo maintains pipelines across Iberian Peninsula.


Founded

1906

HQ

SpainMadrid

Website

viesgo.com

Status

Acquired

Customer focus

B2C & B2B

Revenue model

Usage-based

Valuation

$610M (acquired Jul 2020)

Viesgo Acquisition

Viesgo was acquired by EDP Renovaveis for $610M on 16 July 2020.

The acquisition price implies a 9.4x EBITDA multiple.

EDP Renováveis, S.A. acquired the renewable energy business of Viesgo Infraestructuras Energéticas, S.L., a Spanish energy company, for an enterprise value of €565 million. The deal was announced on July 15, 2020, and completed on December 16, 2020. The acquired portfolio consisted of 511 MW of renewable installed capacity located in Spain (84%) and Portugal (16%), strengthening EDP Renováveis' position as a global leader in renewable energy and the world's third-largest wind energy producer. As part of the broader Viesgo transaction, EDP and its partner Macquarie also acquired Viesgo's thermal generation plants and electricity distribution assets (Viesgo Distribución and Begasa), with EDP holding a 75.1% stake and MIRA holding 24.9%. The renewable business acquisition was funded through a combination of sources, including a €1,020 million rights issue by EDP.

Viesgo acquisition details
AcquirerDateTypePriceEV/EBITDA
  • EDP Renovaveis
16 Jul 2020Strategic M&A$610M9.4x

Viesgo Funding History

Viesgo has 1 recorded secondary share sale and no primary funding rounds.

Viesgo funding rounds
DateStageInvestorsDeal Summary
Mar 2020SecondaryMacquarie Asset ManagementMacquarie Infrastructure and Real Assets exercised a pre-emption right to acquire Wren House Infrastructure's remaining 40 per cent shareholding in Spanish utility Viesgo, taking MIRA-managed funds from 60 per cent to full ownership. The two investors had jointly bought the business from E.ON in 2015 and had already sold its generation and retail arms to Repsol in 2018. Terms were confidential and the transaction was expected to complete in the second quarter of 2020.

Who has invested in Viesgo?

1 investor has backed Viesgo across its funding rounds, including Macquarie Asset Management.


Viesgo Investors

Investors in Viesgo by funding rounds participated
InvestorHQRoundsRoleFirst check

This data is available for Pro users. Sign up to see all 1 Viesgo investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Viesgo Competitors

Viesgo competitors include listed companies like Audax Renovables, Shizuoka Gas Co, Genie Energy and Reliance Power, and private ones like Energie Steiermark and Hydro Rein.

Public and private companies comparable to Viesgo
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Audax RenovablesSpainSpainPublicly listed$2.2B$107M$590M0.4x
Energie SteiermarkAustriaGrazPrivate--$557M-
Shizuoka Gas CoJapanJapanPublicly listed$1.3B$153M$674M0.5x
Genie EnergyUnited StatesUnited StatesPublicly listed$502M$30M$431M0.5x
Reliance PowerIndiaIndiaPublicly listed$751M$278M$908M-
Hydro ReinNorwayOsloPrivate--$333M-

Viesgo Public Comps

Viesgo is no longer listed, but its public comps include Cloudberry Clean Energy, Cox Energy, JEPCO, Caribbean Utilities Company, W&T Offshore, Audax Renovables, PetroRecôncavo, PNEGroup, Bannerman Energy and CK Power PCL.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Cloudberry Clean Energy$55M$39M18.3x9.6x25.6x15.5x
Cox Energy$627M$154M6.5x-26.5x-
JEPCO$1.6B$149M0.8x-8.2x-
Caribbean Utilities Company$284M$102M3.7x-10.4x-
W&T Offshore$501M$54M1.6x1.4x14.8x4.8x
Audax Renovables$2.2B$107M0.4x0.4x8.5x7.2x
PetroRecôncavo$614M$339M1.5x1.6x2.8x3.3x
PNEGroup$265M$49M5.7x3.7x31.0x14.7x

This data is available for Pro users. Sign up to see all Viesgo competitors and their valuation data.

Start Free Trial

Common questions about Viesgo

When was Viesgo founded?Viesgo was founded in 1906.
Where is Viesgo headquartered?Viesgo is headquartered in Madrid, Spain.
Is Viesgo publicly listed?No, Viesgo was acquired by EDP Renovaveis in July 2020.
Who acquired Viesgo?Viesgo was acquired by EDP Renovaveis in July 2020.
How much was Viesgo acquired for?Viesgo was acquired for $610M in July 2020.
Who are Viesgo's investors?Viesgo's investors include Macquarie Asset Management.
Which companies are comparable to Viesgo?Companies comparable to Viesgo include Audax Renovables, Energie Steiermark, Shizuoka Gas Co, Genie Energy, Reliance Power and Hydro Rein.

See companies similar to Viesgo

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial