ZZ Capital International Limited ('ZZCI'), a global investment firm, announced that it has entered into an agreement to invest in Building Energy 1 Holdings plc (“Building Energy”), a global player in multi-source energy generation renewables (wind, solar, hydro and biomass). The investment will consist in the purchase of shareholdings and convertible bonds.
The deal has been finalized and finalized by ZZCI, which will execute the investment jointly with Zhongzhi Capital ('ZZC'), which will act as co-investor1. ZZCI is listed on the GEM Board of the Hong Kong Stock Exchange. The investments of ZZCI and ZZC in Building Energy will amount to a total of approximately 70 million euros. ZZCI and ZZC will invest together with Synergo and Three Hills Capital Partners, which already have 30% and 7% stakes in Building Energy, respectively.
With operations already in over 20 countries worldwide, the Building Energy management team will work closely with ZZCI to expand its business into China and other Asian markets.
Sergio D'Angelo, European Head of ZZ Capital International commented, “The agreement with Building Energy is consistent with our investment strategy, focused on collaborating with entrepreneurs and management teams from companies active in five reference sectors, in order to support them in expanding their business in China. Building Energy has proven experience in the renewable energy sector, which is experiencing growing demand on a global scale. We are pleased to collaborate with Fabrizio Zago and his team to contribute to the growth of the company and expand its business in China ”.
“With the support and expertise of ZZCI, Building Energy will be able to take advantage of the growth of the renewable energy market in Asia,” said Fabrizio Zago, CEO of Building Energy. “We strongly believe that the industry will continue to grow and that, with the support of our partners at ZZCI, we will be able to pursue considerable expansion in China and other Asian markets.”
