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- Viesgo
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
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
Website
Status
Acquired
Customer focus
B2C & B2B
Revenue model
Usage-based
Valuation
$610M (acquired Jul 2020)
Sectors
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.
| Acquirer | Date | Type | Price | EV/EBITDA |
|---|---|---|---|---|
| 16 Jul 2020 | Strategic M&A | $610M | 9.4x |
Viesgo Funding History
Viesgo has 1 recorded secondary share sale and no primary funding rounds.
| Date | Stage | Investors | Deal Summary |
|---|---|---|---|
| Mar 2020 | Secondary | Macquarie Asset Management | Macquarie 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
| Investor | HQ | Rounds | Role | First 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
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Start Free TrialViesgo 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $2.2B | $107M | $590M | 0.4x | ||
| Private | - | - | $557M | - | ||
| Publicly listed | $1.3B | $153M | $674M | 0.5x | ||
| Publicly listed | $502M | $30M | $431M | 0.5x | ||
| Publicly listed | $751M | $278M | $908M | - | ||
| Private | - | - | $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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $55M | $39M | 18.3x | 9.6x | 25.6x | 15.5x | |||
| $627M | $154M | 6.5x | - | 26.5x | - | |||
| $1.6B | $149M | 0.8x | - | 8.2x | - | |||
| $284M | $102M | 3.7x | - | 10.4x | - | |||
| $501M | $54M | 1.6x | 1.4x | 14.8x | 4.8x | |||
| $2.2B | $107M | 0.4x | 0.4x | 8.5x | 7.2x | |||
| $614M | $339M | 1.5x | 1.6x | 2.8x | 3.3x | |||
| $265M | $49M | 5.7x | 3.7x | 31.0x | 14.7x | |||
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. |
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