29 July 2022
- Jan-Hendrik Horsmeier, Stephanie Horowitz, Tim Heerschop, Pieter Leefers, Femke Buijs, Merel Vermolen, Jorrit Sijl, Michiel Sunderman, Jurre Jurriëns, Jaap Tempelman, Mark-Jan Arends , Leen Kranenburg, Tjerk de Jonge, Sabrina Spoor, Wijnanda Rutten, Sanne Blankestijn, Andrea Karkotis, Folko de Vries
- Amsterdam, New York, Washington D.C.
Clifford Chance advises Rivean Capital on an agreement regarding a strategic investment in Esdec Solar Group by Blackstone
International law firm Clifford Chance has advised its long-standing client and leading European private equity investor Rivean Capital, on an agreement with Blackstone to strengthen the shareholder base of Esdec Solar Group, the global market leader in rooftop solar mounting systems, with a significant strategic investment from funds managed by Blackstone Energy Partners and Blackstone private equity.
Esdec develops and distributes high-quality mounting systems and solutions for rooftop solar. Esdec was acquired by Rivean Capital and the management team in 2018 which together have since then transformed the business from a small innovative Benelux gem with just over EUR 30 million in sales to the global industry leader with close to EUR 500 million in sales across three continents.
Completion of the transaction is expected to take place before the end of 2022 following satisfaction of certain closing conditions, including approval from the relevant competition authorities.
The Clifford Chance team consisted of Jan-Hendrik Horsmeier, Stephanie Horowitz, Tim Heerschop, Pieter Leefers, Femke Buijs, Merel Vermolen, Jorrit Sijl, Wouter Fonteijn, Shaun Campbell (Corporate), Michiel Sunderman, Alec Sanderson (Tax), Frans Muller, Jurre Jurriëns, Bruno Weisser Lopez (Antitrust), Jaap Tempelman, Sophie Wijdeveld, Chris in 't Veld, Stijn Theunissen (TMT), Mark Jan Arends, Leen Kranenburg, Tjerk de Jonge and Sabrina Spoor (Notary), IJsbrand de Jong, Wijnanda Rutten, Sanne Blankestijn, Iga Mamczarz (Employment and Pensions), Joris Dortmans, Julia van Heusden, Andrea Karkotis (Projects and Real Estate) and Folko de Vries and Pim Hakkaart (Finance) from Amsterdam and team members from the Clifford Chance offices in New York and Washington D.C.